European stocks may drift lower on Wednesday after Fitch Ratings downgraded the U.S. credit rating by one notch to AA+, citing high debt burden at the federal, state, and local levels and a concerning decline in governance standards over the last two decades.
Asian markets fell sharply, and U.S. stock futures declined on concerns over the state of the U.S. finances.
Technology stocks were seeing heavy declines in Asia after stellar gains through July.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.