European stocks slip at open after US downgrade
European stock markets slid at the start of trading Wednesday after the United States had its top credit rating downgraded by the top rating agency Fitch.
London's benchmark FTSE 100 index dropped 0.8% to 7,602.75 points.
In the eurozone, Frankfurt's DAX index retreated 1.2% to 16,044.02 points and the Paris CAC 40 lost 1.0% to 7,331.88.
Ratings agency Fitch downgraded the United States' top-notch credit rating by a step on Tuesday, citing a growing federal debt burden and an "erosion of governance" that has manifested in debt limit standoffs.
The decision to downgrade the US from AAA to AA+ sparked a fiery rebuttal from the White House.
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