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U.S. Stocks Recover Early Losses Despite Moody’s Debt Downgrade
U.S. Stocks Recover Early Losses Despite Moody’s Debt Downgrade
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Wall Street opened lower after Moody’s downgraded the U.S. credit rating, with the S&P 500 falling 0.8% and the Nasdaq Composite dropping 1%. The Dow Jones Industrial Average lost over 200 points in early trading before buyers stepped in, pushing major indices nearly flat.
Treasury yields spiked as stocks and the dollar dipped, with the 30-year yield climbing to 5.03%—its highest level since October. The surge reflects growing market concerns over U.S. debt sustainability.
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