Stocks Slump After Fitch Downgrades U.S. Debt; VRTX, OLLI, AJG Hold Up
Bond yields rose again, fueling negative sentiment.
Stock Market Today With IBD · Investor's Business Daily
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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.
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