Wall Street closes again slightly in the red – PayPal shares slide

2023-08-03 16:30:12

New York The aftermath of the US credit rating downgrade was also felt on Wall Street on Thursday. The Dow Jones index of standard values ​​closed 0.2 percent lower at 35,215 points. The tech-heavy Nasdaq fell 0.1 percent to 13,959 points. The broad S&P 500 lost 0.3 percent to 4501 points.

The rating agency Fitch downgraded the US credit rating on Tuesday evening and, according to analysts, provided an impetus for a correction that was long overdue. However, they considered major and lasting consequences to be unlikely.

“The downgrading of the credit rating is certainly an image damage for the USA. However, we do not see the position of the US dollar as the global reserve currency or the fundamental attractiveness of US government bonds being endangered by the poorer rating,” said Carsten Klude, manager at the Hamburg-based private bank MM Warburg.

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