Treasury's Yellen Says Fitch's Us Downgrade Is Puzzling' In Light Of U.S. Economic Strength
Portfolio Pulse from Benzinga Newsdesk
US Treasury Secretary Janet Yellen has expressed confusion over Fitch's recent downgrade of the US, given the current strength of the US economy.
August 04, 2023 | 11:53 am
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NEGATIVE IMPACT
The Fitch's downgrade could potentially impact the SPY ETF, which tracks the S&P 500 and is heavily influenced by the overall US economy.
The SPY ETF is a broad representation of the US stock market, tracking the S&P 500 index. Any negative sentiment or downgrade related to the US economy, such as the one from Fitch, could potentially lead to a decrease in the value of SPY in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80