US: Wall St tumbles after Fitch cuts top-tier US rating

WALL Street’s main indexes opened lower on Wednesday (Aug 2) after rating agency Fitch’s surprise move to downgrade the US government’s credit rating hit appetite for risky assets.

The Dow Jones Industrial Average fell 78.76 points, or 0.22 per cent, at the open to 35,551.92.

The S&P 500 opened lower by 25.80 points, or 0.56 per cent, at 4,550.93, while the Nasdaq Composite dropped 151.19 points, or 1.06 per cent, to 14,132.73 at the opening bell. REUTERS