Stocks in debt ceiling danger zone after US rating warnings

Despite the news of Germany’s recession, markets were mainly focused on the US debt ceiling limbo. Chipmaking company Nvidia’s revenue beat expectations, leading to a 24% rise in premarket trading. Main European markets and Wall Street futures are looking positive. On the other hand, Fitch put the US rating on downgrade watch, and China’s yuan has fallen near its six-month lows. Asia has been divided overnight with Japan plodding higher, but Hong Kong markets have tumbled almost 2%. Fitch’s possible downgrade could affect the pricing of trillions of dollars in Treasury debt securities.