Stocks struggle after Moody’s downgrades US credit rating

Bond yields rose and the dollar weakened as Trump administration tries to play down significance of setbackNews that the US has lost its last triple-A credit rating and fresh concern over the US federal government’s burgeoning debt pile unnerved markets on Monday, with long-term borrowing costs rising and stocks struggling.Credit ratings agency Moody’s dealt a blow to Washington on Friday when it stripped the US of its top-notch rating, downgrading the world’s largest economy by one notch to AA1 and become becoming the last of the big three agencies to drop its triple-A rating for the US. Continue reading...

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