Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028
Published . Updated .
On the 24th (local time), protesters march in Paris, France, calling for action against high prices and better education conditions, among other demands. Courtesy of Newsis. [Financial News] International credit rating agency Fitch maintained Franc
Directly affected
- No company is named in this report.
Indirectly affected
- XLF Financial Select Sector SPDR-3.5% 30d
Financial Select Sector SPDR: it holds banks. Linked by “credit” (banks) in this story.
- KRE SPDR S&P Regional Banking ETF-4.8% 30d
SPDR S&P Regional Banking ETF: it holds banks. Linked by “credit” (banks) in this story.
- EWQ iShares MSCI France ETF-6.5% 11d
iShares MSCI France ETF holds stocks listed in France, which this story is about (“france”).
- BWX SPDR Bloomberg International Treasury Bond ETF
SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in France
- EFA iShares MSCI EAFE ETF-2.2% 11d
iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes France
- JPM JPMorgan Chase-1.7% 30d
JPMorgan Chase (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “credit” (banks) in this story.
- BAC Bank of America-11.4% 30d
Bank of America (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “credit” (banks) in this story.
- WFC Wells Fargo-1.5% 30d
Wells Fargo (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “credit” (banks) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLF | -0.87% | -0.73% | base | after close | after close | after close | after close |
| KRE | +0.93% | +0.14% | base | after close | after close | after close | after close |
| EWQ | -1.76% | -1.02% | base | after close | after close | after close | after close |
| BWX | -0.23% | -0.33% | base | after close | after close | after close | after close |
| EFANo price data for this ticker | — | — | — | — | — | — | — |
| JPM | -0.92% | +0.67% | base | after close | after close | after close | after close |
| BAC | +1.08% | +1.74% | base | after close | after close | after close | after close |
| WFCNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028 파이낸셜뉴스
Source: 블루밍비트
How far Select Sector Spdr Tr (XLF) has moved since 31 Oct 2026
| Company | When | Move | Status |
|---|---|---|---|
| Bank Of America (BAC) | three days earlier | +1.74% | final price |
| Bank Of America (BAC) | five days earlier | +1.08% | final price |
| Spdr Series Trust (BWX) | three days earlier | -0.33% | final price |
| Spdr Series Trust (BWX) | five days earlier | -0.23% | final price |
| Ishares (EWQ) | three days earlier | -1.02% | final price |
| Ishares (EWQ) | five days earlier | -1.76% | final price |
| Jpmorgan Chase (JPM) | three days earlier | +0.67% | final price |
| Jpmorgan Chase (JPM) | five days earlier | -0.92% | final price |
| Spdr Series Trust (KRE) | three days earlier | +0.14% | final price |
| Spdr Series Trust (KRE) | five days earlier | +0.93% | final price |
| Select Sector Spdr Tr (XLF) | three days earlier | -0.73% | final price |
| Select Sector Spdr Tr (XLF) | five days earlier | -0.87% | final price |
Congressional trades in the stocks in this story
- Sen. John Boozman sold Ishares Tr (EFA) (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 52 days before publication. Filed 21 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 57 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 57 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 65 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 52 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 68 days before publication. Filed 16 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 36 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $15,001 - $50,000 on 17 Sep 2026. That is 44 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $1,001 - $15,000 on 15 Sep 2026. That is 46 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Select Sector Spdr Tr (XLF)
Companies carried with this story
- XLF Select Sector Spdr Tr
For “Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028,” Select Sector Spdr Tr (XLF) is linked, with no stored direction, medium confidence. Reason on file: Financial Select Sector SPDR: it holds banks. Linked by “credit” (banks) in this story
- KRE Spdr Series Trust
In “Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028,” Spdr Series Trust (KRE) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Regional Banking ETF: it holds banks. Linked by “credit” (banks) in this story
- EWQ Ishares
Ishares (EWQ) is linked, with no stored direction, medium confidence in the 31 Oct 2026 story “Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028.” Reason on file: iShares MSCI France ETF holds stocks listed in France, which this story is about (“france”)
- BWX Spdr Series Trust
Spdr Series Trust (BWX) is linked, with no stored direction, medium confidence in the 31 Oct 2026 story “Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028.” Reason on file: SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in France
- EFA Ishares Tr
In “Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028,” Ishares Tr (EFA) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes France
- JPM Jpmorgan Chase
For “Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028,” Jpmorgan Chase (JPM) is linked, with no stored direction, medium confidence. Reason on file: JPMorgan Chase (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “credit” (banks) in this story
- BAC Bank Of America
Bank Of America (BAC) is linked, with no stored direction, medium confidence in the 31 Oct 2026 story “Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028.” Reason on file: Bank of America (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “credit” (banks) in this story
- WFC Wells Fargo
Wells Fargo (WFC) is linked, with no stored direction, medium confidence in the 31 Oct 2026 story “Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028.” Reason on file: Wells Fargo (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “credit” (banks) in this story
Select Sector Spdr Tr (XLF)
“Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028” (31 Oct 2026) reaches Select Sector Spdr Tr (XLF) through this story.
The link for Select Sector Spdr Tr (XLF) is this: Financial Select Sector SPDR: it holds banks. Linked by “credit” (banks) in this story
Also listed, Spdr Series Trust (KRE): SPDR S&P Regional Banking ETF: it holds banks. Linked by “credit” (banks) in this story
Dates in the story, and the Select Sector Spdr Tr (XLF) price range
EWQ traded between 40.92 and 44.65 across 8 sessions. The latest close on file is 41.61. KRE traded between 67.80 and 71.93 across 20 sessions. The latest close on file is 70.61. XLF traded between 52.82 and 56.03 across 20 sessions. The latest close on file is 55.07.
A simple score for Select Sector Spdr Tr (XLF)
46 out of 100
“Fitch Cuts France’s Credit Rating Outlook to ‘Negative’... Debt-to-GDP Ratio Seen at 124% in 2028” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.