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(Image from article: "Fitch may cut U.S. to "restricted default" in August")

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Fitch downgrades world's top banks

The ratings firm Fitch downgraded a cluster of the world's largest banks Thursday, pointing to trading challenges facing international markets. The banks included Bank of America, Morgan Stanley and Goldman Sachs, as well as Europe's Barclays, Societe Generale and BNP Paribas. Germany's Deutsche Bank and Switerzland's Credit Suisse were also downgraded.

Fitch may cut U.S. to "restricted default" in August

The United States probably wouldn't be able to maintain its prized AAA sovereign ratings status if it suffered even a "technical" default on its debt, Fitch Ratings said on Wednesday.

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