The US dollar, stocks and bonds all fell on Thursday as concerns that the US could face a credit rating downgrade combined with unease about Federal Reserve strategy to generate an across-the-board sell-off in US assets.
The retreat followed Standard & Poor’s decision to mark down its medium-term outlook on the UK’s AAA credit rating to “negative” from “stable” for the first time since the ratings agency started analysing UK public finances in 1978.
