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Here is what happened in markets the last time the US was downgraded: Stocks, FX and gold
The Fitch downgrade of the US today is major news and comes almost exactly 12 years after Standard & Poors cut the US to AA+. That move came late on a Friday afternoon and the market had the weekend to digest it. The extra time didn't provide any great solace as the S&P 500 fell to 1119 from 1199 and closed on the lows.Notably, that news hit the market in a vulnerable state after two weeks of heavy selling.In the FX market, the reaction was more mixed as the US dollar selling impulse was met by...
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Posted: Aug 1 2023, 21:45
Author Name: forexlive
Views: 111091