U.S. stocks open lower after Fitch downgrades U.S. credit rating

U.S. stocks opened lower on Wednesday as a late-Tuesday downgrade of the U.S. government’s credit rating by Fitch Ratings rattled global equity markets. The S&P 500 SPX fell by 33 points, or 0.8%, to 4,541. The Dow Jones Industrial Average DJIA fell by 145 points, or 0.4%, 35,493. The Nasdaq Composite COMP fell by 167 points, or 1.2%, to 14,120. Fitch lowered the U.S. federal government’s credit rating to AA+ from AAA, citing concerns about a growing debt load and management concerns tied to the debt-ceiling showdown.

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