European stocks slide on debt deal news

Filed under: AM Roundup |

Stocks fell Monday in Europe and Asia, and Wall Street is headed for a rocky start as news of the supercommittee’s failure to agree on debt reduction reached the markets.

The New York Times is reporting that Fitch will downgrade the U.S. debt if there is no agreement, mirroring Standard and Poor’s downgrade in the summer of 2011.

Read more at the New York Times.