Market Sentiment Dented As Fitch Ratings Downgrades U.S.

Sentiment suffered as markets reacted to the rating downgrade of U.S. by global rating agency Fitch Ratings. The surprise move added to the weak sentiment ahead of the interest rate decision by Bank of England on Thursday and the release of non-farm payrolls data from the U.S. on Friday.

Wall Street Futures are trading with losses as risk sentiment was hit badly following the rating downgrade. European benchmarks are trading with deep losses as the downgrade news added to disappointment triggered by signs of slowing regional growth. Asian stock markets finished with deep cuts as waning hopes of stimulus from China, geopolitical tensions and the rating downgrade weighed on market sentiment.

Dollar Index edged lower. Bond yields mostly declined amidst a risk-off mood, following the rating cut by Fitch. Crude oil prices gained after industry data revealed a big decline in inventories in the U.S. Gold prices gained. Cryptocurrencies rebounded.

Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies.

Stock Indexes:

DJIA (US30) at 35,525.30, down 0.30%
S&P 500 (US500) at 4,553.40, down 0.51%
Germany's DAX at 16,088.55, down 0.94%
U.K.'s FTSE 100 at 7,576.58, down 1.17%
France's CAC 40 at 7,346.86, down 0.80%
Euro Stoxx 50 at 4,364.95, down 0.96%
Japan's Nikkei 225 at 32,707.50, down 2.27%
Australia's S&P ASX 200 at 7,354.60, down 1.29%
China's Shanghai Composite at 3,261.69, down 0.89%
Hong Kong's Hang Seng at 19,514.00, down 2.48%

Currencies:

EUR/USD at 1.0972, down 0.09%
GBP/USD at 1.2770, down 0.05%
USD/JPY at 142.74, down 0.41%
AUD/USD at 0.6579, down 0.48%
USD/CAD at 1.3313, up 0.26%
Dollar Index at 102.23, down 0.07%

Ten-Year Govt Bond Yields:

U.S. at 4.026%, down 0.59%
Germany at 2.4820%, down 1.62%
France at 3.051%, down 1.39%
U.K. at 4.4405%, up 0.92%
Japan at 0.623%, down 0.64%

Commodities:

Brent Oil Futures (Oct) at $85.36, up 0.53%.
Crude Oil WTI Futures (Sep) at $81.86, up 0.60%.
Gold Futures (Dec) at $1,985.65, up 0.35%.

Cryptocurrencies:

Bitcoin at $29,440.05, up 1.84%
Ethereum at $1,854.04, up 1.20%
BNB at $244.70, down 0.00%
XRP at $0.6948, up 0.63%
Dogecoin (DOGE) at $0.0768, down 0.21%

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