Australian Financial Review: ASX tumbles as US downgrade knocks confidence

“[The downgrade] may add to market nerves, and exert more pressure on risk assets and cyclical currencies like the Australian dollar,” said Peter Dragicevich, Corpay currency strategist.

“That said, we don’t expect any bouts of risk aversion to mirror the moves triggered by S&P’s 2011 US downgrade.” Read the article in the Australian Financial Review here: https://www.afr.com/markets/equity-markets/asx-tumbles-as-us-downgrade-knocks-confidence-20230802-p5dt9v