US Treasury Secretary Janet Yellen said Wednesday that Fitch’s downgrade of the US credit rating is “totally unjustified”, denouncing the move taken against the background of repeated disagreements in Washington over raising the public debt ceiling.
And Yellen stressed in a speech delivered in Virginia that “Fitch’s decision calls for confusion in light of the economic power enjoyed by the United States,” reiterating her objection to the move.
For his part, The main indices on Wall Street started their trading today with a decline, after Fitch’s sudden move to downgrade the US government’s credit rating affected the appetite for risky assets.
The Dow Jones index fell 78.76 points, or 0.22 percent, to 35,551.92 points. The Standard & Poor’s index fell 25.80 points, or 0.56 percent, to 4,550.93 points. The Nasdaq index fell 151.19 points, or 1.06 percent, to 14,132.73 points.
According to , Fitch lowered the US rating yesterday to AA+ from AAA, which was opposed by Treasury Secretary Janet Yellen.
