A money changer counts U.S. dollar banknotes at a currency exchange office in Ankara, Turkey November 11, 2021.
REUTERS/Cagla Gurdogan/File PhotoA look at the day ahead in European and global markets from Brigid RileyFitch delivered the markets a doozy of a surprise with an unexpected downgrade of the U.S. government's credit rating, by one notch to AA+ from AAA, citing concerns over governance and U.S. debt.
Japan's Nikkei (.N225) suffered a 1.8% drop, but that's after hovering near post-Bubble highs for most of the past two months.
Chinese markets also took a big hit, led by a 2% drop for Hong Kong's Hang Seng.
But again, these are markets that had been supported by now-waning hopes for big-bang economic stimulus from Beijing.
Persons:
Cagla, Brigid Riley Fitch, Biden, Brigid Riley, Kevin Buckland, Edmund Klamann
Organizations:
REUTERS, AAA, Treasury, NASDAQ, Japan's Nikkei, Swiss PMI, Thomson
Locations:
Ankara, Turkey, U.S, Beijing, China's, Swiss, Spain