DJI Dow Jones Fell 8.60% After the Last U.S. Credit Downgrade
Updated
On Tuesday, Fitch Ratings downgraded the US debt rating from the highest AAA rating to AA+, citing concerns over "a steady deterioration in standards of governance."
This downgrade occurred in the wake of last-minute negotiations among lawmakers to secure a debt ceiling deal earlier this year, which posed a risk of the nation's first default.
Following a similar credit downgrade in the past, the DJI Dow Jones Industrial Average experienced an 8.60% decline over a period of 3 months. The downgrade by S&P, one of the three major credit rating firms, took place on Aug. 5, 2011, after another significant debt ceiling battle.
As of today, the U.S. 10-year Treasury yield has risen to 4.15%, reaching its highest level since November 2022.
If we are to fell -8.60%, the Price Target for DJI is $32500.
Looking forward to read your opinion about it!
This downgrade occurred in the wake of last-minute negotiations among lawmakers to secure a debt ceiling deal earlier this year, which posed a risk of the nation's first default.
Following a similar credit downgrade in the past, the DJI Dow Jones Industrial Average experienced an 8.60% decline over a period of 3 months. The downgrade by S&P, one of the three major credit rating firms, took place on Aug. 5, 2011, after another significant debt ceiling battle.
As of today, the U.S. 10-year Treasury yield has risen to 4.15%, reaching its highest level since November 2022.
If we are to fell -8.60%, the Price Target for DJI is $32500.
Looking forward to read your opinion about it!
Trade active
DJI following the trendline.Trade closed: target reached
DJI reached our price target to the penny! So that U.S. Credit Downgrade statistic really worked.
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RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
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