The European stock markets start with falls of around 1% after Fitch’s downgrade to the US.

The European stock markets follow the lead of the main Asian markets and fall at the beginning of the session after the Fitch rating agency has decided to downgrade the US debt note, which until now had the highest rating (AAA ).

Frankfurt is left 1.22%, Madrid, 1.13%; Milan, 1.05%; London, 0.96%; Paris, 0.94%; and the EuroStoxx 50, an index that groups the largest listed companies in Europe, 1.07%.

Fitch, which in May placed the US rating on negative review, has decided to lower the country’s debt rating due to the worsening of budgetary conditions that it expects in the coming years and the recurring complications that arise each year when reviewing the debt ceiling, explains Renta4 in a market report.

The Asian stock markets have fallen after the decision of the rating agency (2.3% Tokyo and 2.26% Hong Kong, which has not yet closed, and 0.9% Shanghai).

This Wednesday there will be hardly any relevant macroeconomic references (only the ADP employment change indicator for July in the US) and investors wait for the US unemployment report on Friday.

The latter is very relevant for the stock markets due to its influence on future decisions of the Federal Reserve (Fed), since the US central bank takes into account the evolution of employment to measure the impact that the increase in prices has on the economy. interest rates for the last year.

With the euro at $1,098, 0.84% ​​less than the day before, Brent oil, the benchmark in Europe, rises 0.8% and trades above $85 a barrel.

The yield on long-term debt in Germany, considered the safest, is at 2.537%, slightly below the close of the day before (2.551%).