‘Shark Tank’ star Kevin O’Leary says US debt-rating downgrade means there’s less faith in the dollar and Treasurys

• Fitch’s US credit-rating downgrade means there’s less faith in the dollar and Treasury bills, Kevin O’Leary said.
• This will push sovereign wealth funds to be weary of holding greenbacks, he told Fox News.
• “There’s no way to sugarcoat this at all. It’s bad,” the “Shark Tank” star said.

It’s impossible to view Fitch Ratings’ downgrade of the US’s sovereign credit rating in a good light, “Shark Tank” star Kevin O’Leary told Fox News. 

“There’s no way to sugarcoat this at all. It’s bad,” he said Wednesday, adding: “Basically, when you downgrade the US economy — which is what this downgrading is — you are losing a little faith in the US dollar and the US Treasury bill.”