Moody, Futures and Dow Jones Industrial Average
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Stock markets were set for a moody Monday after Moody’s downgrade of its rating on U.S. sovereign debt the previous week. Dow Jones Industrial Average futures were down 350 points, or 0.8%. S&P 500 futures were falling 1.
Strategists warned the move, announced after the market close on Friday, could spark some near-term selling in stocks and Treasurys.
The yield on both 10 and 30-year government bonds rose on Monday after another credit ratings agency downgraded the US on Friday.
US stock futures slide after Moodys downgraded the countrys credit rating from “Aaa” to “Aa1,” raising alarm over Americas growing $36 trillion debt. This unexpected jolt hit Wall Street early Monday,
Futures are pointing to a mixed open for major U.S. stock indexes on Tuesday as the S&P 500 aims to extend its winning streak to seven consecutive sessions.
Stock futures fell Sunday evening as investors responded to Moody's downgrade of the U.S.' credit rating. Futures tied to the Dow Jones Industrial Average dropped 292 points points, or 0.7%. S&P 500 futures pulled back 0.7%, while Nasdaq 100 futures lost 0.8%.
Long-dated US government bonds and stocks dropped after a lacklustre Treasury auction underscored growing concerns among investors over President Donald Trump’s flagship tax bill. The 30-year Treasury yield was up 0.