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U.S. Stocks Flat Amid Moody’s Downgrade and Fiscal Concerns
U.S. Stocks Flat Amid Moody’s Downgrade and Fiscal Concerns
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U.S. equities showed muted movement as Moody’s Ratings downgraded the nation’s credit to AA1, citing persistent fiscal deficits and rising interest costs. The S&P 500 edged higher after a five-day rally, while the Nasdaq Composite and Dow Jones Industrial Average posted marginal gains.
Market sentiment wavered as the House Budget Committee advanced a tax-and-spending plan expected to widen federal deficits. Treasury yields briefly spiked to 4.56%, reflecting investor unease about fiscal sustainability.
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