Fitch places U.S. debt on negative watch

Fitch Ratings announced a "rating watch negative" for U.S. debt, warning that it could downgrade the nation's triple-A credit rating even if Congress passes a short-term increase to the debt limit to avoid a default. The ratings agency cited its dropping confidence in the U.S.'s ability to institute economic policy effectively as a reason for the possible downgrade, which could come as early as the first quarter of 2014.

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