Stocks slide on Fitch warning about U.S. debt

Posted By on January 16, 2013

Stock markets slid Tuesday after Fitch ratings agency warned it might downgrade U.S. government debt and new figures showed Germany’s economy contracted last quarter.

The Dow Jones industrial average and the broader Standard & Poor’s 500 index were about 0.3% lower in late morning trading.

The tech-laden Nasdaq composite index was down more than 0.6%.

European analysts say Germany is unlikely to fall into recession, defined as two consecutive quarters of economic contraction. [full story…]