The US Is Stripped of Its AAA Credit Rating by Fitch

The United States has been stripped of its AAA credit rating by Fitch. The agency says the country's ballooning fiscal deficits and an erosion of governance led it to drop the grade for the world's largest economy to double A plus. PIMCO's Head of Public Policy Libby Cantrell sums up the reaction from many investors: "We've been talking to clients about this idea of the US being the cleanest dirty shirt"