Reacted with anger. I strongly disagree with fitchs reacted with anger. I strongly disagree with fitchs decision | disagree with fitchs decision and i disagree with fitchs decision and i believe it is entirely unwarranted. Its flawed assessment is based on outdated data and assessment is based on outdated data and fails to reflect improvements across a range of indicators, improvements across a range of indicators, including those related indicators, including those related to governance, that we have related to governance, that we have seen related to governance, that we have seen over the past two and a half have seen over the past two and a half years. Gf of the democrats used the opportunity to point finger and republicans for their role in the recent Debt Limit Fight of all republicans blame it democrats and Joe Biden For joins of dollars in new spending for the many economists dismiss the downgrade, includingjp morgan downgrade, including Jp Morgan Chase downgrade, includingJp Mo
it was a sea of red on global stock markets on wednesday, including asia. japan s nikkei led losses in the region, closing 2% lower. analysts expect fitch s move will spark risk aversion flows, which could mean lower equities in asia, but said these should be short term moves. investors tend to be a bit reactive by nature, so it is not surprising if there is a short term reaction. any time the foundation is shaken, which in a way something we are very used to is having the top rating, seeing any disruption like that is going to cause a reaction. that being said, the real underlying drivers of what determines the evaluation of companies stocks and how they do over time are not so much related to the rating of the us government, so what is really going to matter is business performance over time, economic growth over time, consumer spending over time. that in the