Moody's China downgrade to A1 rattles Asian stocks, Aussie dollar

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Moody's China downgrade to A1 rattles Asian stocks, Aussie dollar.

World stocks inched lower on Wednesday after China's sovereign credit rating was downgraded and as investors eyed a pause in Wall Street's four-day winning streak, the longest in over three months.

The dollar and U.S. bond yields were steady as investors awaited the minutes from the Federal Reserve's last policy meeting. An interest rate rise next month is now 75 percent priced in, according to futures market pricing.

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