DJI Dow Jones Fell 8.60% After the Last U.S. Credit Downgrade

3 Ağu 2023

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!

16 Ağu 2023

İşlem aktif

DJI following the trendline.

4 Oca

İşlem kapandı: hedefe ulaştı

DJI reached our price target to the penny! So that U.S. Credit Downgrade statistic really worked.