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U.S. stocks closed higher after an unsurprising US credit rating downgrade. Treasury yields rise. S&P 500 extends winning streak to six days.
U.S. stocks, bonds and the value of the U.S. dollar are drifting lower on Monday following the latest reminder that the U.S government seems to be hurtling toward an unsustainable mountain of debt.
US stocks declined and Treasury yields rose after Moody’s Ratings downgraded the US credit rating, citing an increase in government debt and a higher interest burden.Most Read from BloombergAs Coastline Erodes,
Moody’s Ratings downgraded the United States’ debt on Friday, stripping the country of its last perfect credit rating. The move could rattle financial markets and push up interest rates, potentially creating an additional financial burden for Americans already struggling with tariffs and inflation.