{"id":1989665,"date":"2023-08-03T12:37:01","date_gmt":"2023-08-03T16:37:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/after-fitch-downgrade-sp-500-sees-biggest-daily-drop-since-late-april\/"},"modified":"2023-08-03T12:38:09","modified_gmt":"2023-08-03T16:38:09","slug":"after-fitch-downgrade-sp-500-sees-biggest-daily-drop-since-late-april","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/after-fitch-downgrade-sp-500-sees-biggest-daily-drop-since-late-april\/","title":{"rendered":"S&#038;P 500 plunges after Fitch downgrade, biggest drop since April."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fafter-fitch-downgrade-sp-500-sees-biggest-daily-drop-since-late-april%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1989665&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The S&#038;P 500 Takes a Hit After America&#8217;s Credit Rating Downgrade<\/h2>\n<p>The S&#038;P 500,\u2062 one of the most widely followed stock market indices, experienced a significant decline on Wednesday. \u2063This drop \u200ccame after Fitch Ratings, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/after-fitch-downgrade-sp-500-sees-biggest-daily-drop-since-late-april\/\" title=\"S&#038;P 500 plunges after Fitch downgrade, biggest drop since April.\">renowned credit rating agency<\/a>, \u200cdowngraded America&#8217;s credit rating from \u200bAAA to\u200d AA+. The downgrade was attributed\u200b to a &#8220;steady deterioration in standards of\u200c governance.&#8221;<\/p>\n<p>On that fateful Wednesday, \u2063the S&#038;P 500 index plummeted by a staggering 1.4 percent. This marked the \u200dlargest daily decline since late April, sending shockwaves throughout the financial world.<\/p>\n<p>Not to be\u200c outdone, the tech-focused NASDAQ index also took a hit, experiencing a substantial slump of close \u2064to 2.2 percent. This decline was the largest daily fall for the \u200dNASDAQ since February, further adding to\u200d the market&#8217;s unease.<\/p>\n<h3>Reasons for the Downgrade<\/h3>\n<p>Fitch Ratings cited several factors as reasons for the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-tells-congress-to-take-extraordinary-measures-to-avoid-debt-crisis\/\" title=\"Yellen Tells Congress To Take \u2018Extraordinary Measures\u2019 To Avoid Debt Crisis\">credit rating downgrade<\/a>. These factors included the aforementioned\u200c &#8220;steady deterioration in standards of governance.&#8221; This downgrade serves as a stark reminder of\u200c the importance of maintaining strong governance practices to \u200b<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-chairman-powell-admits-us-faces-higher-recession-risk\/\" title=\"Federal Reserve Chairman Powell admits US faces higher recession risk\">ensure economic stability<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 experienced its largest drop since April as Fitch Ratings downgraded America&#8217;s credit rating to AA+ due to declining governance standards. On Wednesday, the S&amp;P 500 fell 1.4%, marking its biggest daily decline since April. The tech-focused NASDAQ index also slumped.<\/p>\n","protected":false},"author":186,"featured_media":1989666,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-1989665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1989665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/186"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1989665"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1989665\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1989666"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1989665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1989665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1989665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}