Last time this happened (around 2008 crisis) didn't that ultimately led to more capital flowing into US? II(vaguely)RC it was a signaling that a big downturn is ahead and that unpredictably meant lots of capital found safe haven in US assets. in retrospect that may be because European banks were in even worse condition and more leveraged than US. IDK what the situation is currently but major international markets like UK/Japan/China all seem distressed at the moment.
So IDK what the material impact for this downgrade ends up being but it does not seems like a big deal.
So IDK what the material impact for this downgrade ends up being but it does not seems like a big deal.