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U.S. Debt Downgrade Rattles Markets as Treasury Yields Spike
U.S. Debt Downgrade Rattles Markets as Treasury Yields Spike
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Wall Street faced mixed reactions after Moody’s downgraded the U.S. credit rating from Aaa to Aa1, aligning it with earlier moves by S&P and Fitch. The Dow Jones eked out a marginal gain of 0.05%, while the S&P 500 and Nasdaq dipped 0.24% and 0.37% respectively.
Treasury yields surged following the announcement, with the 30-year bond hitting 5.03% - its highest level since November 2023. The market’s muted response suggests investors had largely priced in the downgrade, though the yield spike indicates lingering concerns about fiscal stability.
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