U.S. Credit Rating Downgraded, Impacting Markets and Crypto

• Fitch Ratings downgraded the U.S. credit rating from AAA to AA+ on August 2nd.
• The downgrade is blamed on growing debt and political dysfunction in Washington.
• Despite the downgrade, Treasury yields have remained unchanged so far.
• Bitcoin and crypto prices jumped after the Fitch announcement.
• Stocks are expected to open lower following the credit downgrade.

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