Ratings agency Fitch reaffirmed the U.S.’s triple-A credit rating with a stable outlook — two weeks after Standard & Poor’s downgraded U.S. debt to double-A plus. Fitch cited the U.S.’s –quote “pivotal role in the global financial system,” “wealthy economy,” and “exchange rate flexibility” as pillars of the nation’s creditworthiness. To hear more about this […]
So it’s happened — right or wrong: a downgrade of Uncle Sam’s credit for the first time in history. Overnight, in reaction to the credit downgrade, Asian and European stocks dropped significantly. Here’s a quick primer based on ABC News’ extensive reporting on the possibility of a downgrade — five easy to understand effects: 1. […]
