U.S. Stocks Flat Amid Moody’s Downgrade and Fiscal Concerns
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.