A full 12 years later, Fitch has joined S&P by downgrading the sovereign rating of US.

However unlike the S&P downgrade of 2011, market reaction while negative was not as severe as last time. What was the rationale for the downgrade? How similar and different is it versus S&P's downgrade and why markets reaction has been different versus last time?

To get the answers for these and what can be the implications for markets going ahead, listen in to this interesting conversation between Parvatha Vardhini and Hari Viswanath.