Gift Nifty, global markets to US credit rating downgrade key triggers for Indian stock market today

News Snapshot:

Asian markets traded lower and US stock futures declined on Wednesday after rating agency Fitch downgraded the US credit rating by one notch to AA. The credit rating agency cited expected fiscal deterioration over the next three years and growing general government debt burden. The move led to risk averse trade in the market with safe haven buying in treasuries and currencies. Futures contracts for the S&P 500 fell 0.4%, while that of Nasdaq 100 declined 0.5%. Read here: Fitch cuts US credit rating to AA after debt limit standoffs Meanwhile, a report from the Institute for Supply Management said...