US Markets Close Lower As Fitch Downgrades Credit Rating; Asian Stocks Fall Amid Uncertainty

Data from Composite Index is displayed on the screen of a smartphone. Major indices had no boost from the better-than-expected ADP Employment Change report, which indicated that private enterprises gained 324,000 jobs in July. SHELDON COOPER/SOPA IMAGES/LIGHTROCKET VIA GETTY IMAGES.

On Wednesday, August 2, the U.S. markets closed lower after Fitch downgraded the long-term credit rating of U.S. NASDAQ fell as traders focused on the downgrade of U.S. debt and rising Treasury yields. 

Major indices had no boost from the better-than-expected ADP Employment Change report, which indicated that private enterprises gained 324,000 jobs in July.