Fitch's US Credit Downgrade Sends Global Markets Sliding

Global stock markets experienced a decline after Fitch downgraded the US credit rating, citing concerns over governance standards and the growing debt burden. Japan's Nikkei 225 and Hong Kong's Hang Seng indices both fell significantly, while European stocks also saw a decline. US stock futures slipped, but US Treasuries prices rose. Fitch highlighted the January 6th insurrection and repeated debt limit standoffs as significant concerns. China and Japan are the largest foreign investors in US government debt, but Goldman Sachs analysts believe there won't be forced selling due to the downgrade.