Fiscal row imperils US credit rating

Ratings agency Fitch has put the US AAA credit rating under review for a downgrade as the deadline to raise the US borrowing limit draws closer.

The move comes after Democrats rejected a plan by the Republican-led House of Representatives as an attempt to appease a small group of conservatives.

Hours later, House Republicans revised their proposal and planned to put it to a vote, but even that was called off.

The US must raise its $16.7tn (£10.5tn) debt limit by Thursday or risk default.

"The [Fitch] announcement reflects the urgency with which Congress should act to remove the threat of default hanging over the economy," said US Treasury spokeswoman Brandi Hoffine.