Fox Business is reporting Fitch has placed the USA’s triple-A credit rating on a “negative watch.” The House has called off plans to vote tonight on a budget and debt ceiling deal. Markets today were down.
If the USA defaults, markets could go down big time. Does that happen tomorrow?
Does it happen Thursday or Friday?
Or do the politicians in Washington, D.C. actually reach a deal. The same socialist-democrats who have not had a budget approved in years, now expect to get all their own budget demands met. This thing is getting too close for comfort and is making people nervous. The Dow was down 133 points today, S&P down 12 and the NASDAQ was down 21.
Is this a good time to buy or sell? To be in or out? Many people may be making up their minds tomorrow afternoon if no deal is reached by then. We could see a very volatile day of trading on October 16th. Let’s just hope it does NOT turn out to be a stock market disaster.