Wall Street retreated for the first time in 3-sessions in light volume summer trading and on the eve of the Federal Reserve's annual two-day Economic Policy Symposium in Jackson Hole, Wyoming - Dow down -87-points or -0.40% (after posting its best single session advance in ~4-months on Tuesday) and the broader S&P500 -0.35%, NASDAQ -0.30%. Credit ratings agency Fitch Ratings put Congress on notice regarding the debt ceiling, officially stating that the US' AAA rating would be in jeopardy if the government cannot reach a deal on time. Treasury Secretary Steve Mnuchin has said the debt ceiling limit will be reached at the end of September. Separately, President Trump delivered a speech in Arizona and warned he is prepared to shut down the government if Congress don't include money for the border wall in a funding bill. The US on Tuesday (22 Ausgust) also imposed new North Korea-related sanctions, targeting Chinese and Russian firms and individuals for supporting Pyongyang's weapons programs.
