Mohamed El-Erian is chief economic advisor at Allianz SE.
Comments on the Fitch downgrade in a Tweet.
ICYMI:
- Fitch downgrades USA long-term credit rating to AA+ from AAA
- Here is what happened in markets the last time the US was downgraded: Stocks, FX and gold
- Fitch placed USA on negative watch back in May, now has cut the US rating from triple A
- EUR/USD spiking higher, USD/JPY lower after US rating downgrade
- US equity futures have dropped, hard, upon reopening after the downgrade
