 "Markets, Bloomberg")
Global equity markets continued to feel the heat of Fitch Ratings’ downgrade of long-term foreign currency issuer default rating for the US to AA+ from AAA for the second consecutive day.
Most Asian markets, such as in Hong Kong, Shanghai and Japan lost up to 1 per cent in trade on Thursday. Back home, the S&P BSE Sensex and the Nifty50 also traded weak with a cut of around 0.3 per cent in intra-day deals.
Morgan Stanley’s upgrade of India to ‘overweight’, however, helped stem the fall.
