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Moody's downgrade of China's debt is a big deal: NYSE trader

Moody's cut China's debt rating overnight to A-1, citing concerns over slowing growth and rising debt. But the US ratings agency also upgraded its outlook for China to 'stable' from 'negative'. Yahoo Finance's Alexis Christoforous is joined by Keith Bliss of Cuttone and Company, from the New York Stock Exchange to discuss the market implications both short- and long-term.