Stocks wiped out their early gains to turn lower Thursday, with the Dow Jones Industrial Average headed for a three-day loss, as rumors that ratings agency Fitch may come out with a statement on a U.S. downgrade weighed on major averages.
But a Fitch spokesperson referred CNBC to their statement from July, which said "Fitch does not expect to resolve the negative outlook until late 2013."
In turn, investors reevaluated their positions with some turning toward Treasury bonds, which are considered by some to be less risky.
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