America’s Debt Problem Spooks Markets: Why Fitch Downgraded U.S. To AA+ | India Tonight

Financial Markets across the globe were treated with quite a surprise today after global credit rating agency Fitch downgraded the U.S Sovereign rating from AAA to AA+. Fitch cited expectations of fiscal deterioration over the next three years, a high and growing general government debt burden, and steady deterioration in governance over the last 20 years, as its rationale behind the downgrade. The move comes months after the rating agency put the US on “rating watch negative” – a warning that a downgrade was around the corner. On this edition of India Tonight, Vikram Oza speaks with Anurag Singh, Managing Partner, Ansid Capital; and Peter Cardillo, Chief Market Economist, Spartan Capital Securities LLC; on how this will impact markets around the world.