Wall Street Tumbles After Fitch Cuts Top-Tier US Rating

Wall Street’s main indexes opened lower on Wednesday after rating agency Fitch’s surprise move to downgrade the U.S. government’s credit rating hit appetite for risky assets.

The Dow Jones Industrial Average fell 78.76 points, or 0.22 percent, at the open to 35,551.92.

The S&P 500 opened lower by 25.80 points, or 0.56 percent, at 4,550.93, while the Nasdaq Composite dropped 151.19 points, or 1.06 percent, to 14,132.73 at the opening bell.