Stocks Slump After Fitch Downgrades U.S. Debt; VRTX, OLLI, AJG Hold Up
Bond yields rose again, fueling negative sentiment.
August 2, 202316m 34s
Audio is streamed directly from the publisher (pdst.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
A wave of selling hit the stock market Wednesday after Fitch downgraded the U.S credit rating to AA+ from AAA. The 10-year Treasury yield hit its highest level since November and sellers swarmed around leading growth stocks. Vertex Pharmaceuticals had a positive response to earnings; Ollie’s Bargain Outlet is trading tightly near highs and insurer Arthur J. Gallagher is in a buy zone.
Learn more about your ad choices. Visit megaphone.fm/adchoices