Apparently This Is Why Wall Street Is Bleeding!

<p>&nbsp;The downgrade by Fitch Ratings on the United States seems to have a 'bloody' impact on the Wall Street market on Wednesday.</p><p><br /></p><p>This was shown in the decline of all three indexes when they closed in the New York session, with the S&amp;P 500 and the Nasdaq Composite recording declines for the second day in a row.</p><p><br /></p><p>The Dow Jones Industrial lost 0.98% to 35,282.52, while the S&amp;P 500 lost 1.38% to 4,513.39 and the Nasdaq fell 2.17% to 13,973.45.</p><p><br /></p><p>The US30 index slightly increased at around 35,352.00 during the Asian session.</p><p><br /></p><p>Ratings agency Fitch has downgraded the US government's rating from AAA to AA+, saying it reflects an expected fiscal downturn over the next three years.</p><p><br /></p><p><br /></p><p>As a result, investors took the opportunity to take some profits ahead of this week's important NFP data.</p><p><br /></p><p>The decline in the US market saw Apple down 1.55%, Tesla down 2.67%, Netflix down 2.03%, Nvidia down 4.81% and Meta down 2.6%.</p><p><br /></p><p>JPMorgan Chase CEO Jamie Dimon described the downgrade as silly and unimportant.</p><p><br /></p><p>Meanwhile, the US ADP jobs report showed private sector employment rose more than expected in July.</p><p><br /></p><p>Investors' focus is next on the release of jobless claims data and the US service sector in the New York session today.</p>