Fitch Ratings warns US from contamination risk

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters

According to Fitch, US banks are strongly exposed to Europe default if region's crisis accumulates and expands beyond Greece, Italy, Ireland Portugal, and Spain (GIIPS). If the solution for Eurozone debt turmoil is not well timed and properly solved, then financial outlook for US banking industry might worsen, said Fitch. Currently six biggest US banks hold $50 bn in risky assets linked to GIIPS.

Back to articles

Actual Topics

Thu, 17 Nov 2011 08:11:11 GMT

US stocks drop on Fitch announcement

On Wednesday US equities experienced a decline during last trading hour as Fitch Ratings reported that US banking industry is exposed to contagion form Euro region debt crisis. S&P 500 dropped 1.7% or 21 points, Dow Jones industrial average lost 1.6% or 191 points, while Nasdaq composit slipped 1.7% or 47 points. During the day investors attempted dump bonds of most European countries except Germany.

Thu, 17 Nov 2011 08:08:45 GMT

Asian stocks recoup early losses

On Thursday Asia equities erased most of losses linked with European debt crisis, as investors faced optimistic company valuations. Hong Kong's Hang Seng Index outweighted early losses, however, still traded down 0.9 whereas China's Shanghai Composite index closed flat. Korea's Kospi added 0.2%, Australia's S&P/ASX 200 index gained 0.5% and Japan's Nikkei Stock Average advanced 0.3%.

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.