Moody’s downgrades US credit rating
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White House National Economic Council Director Kevin Hassett criticized Moody’s Ratings over its decision to lower the US credit rating, calling the move backward-looking and saying the Trump administration is committed to lowering federal spending.
The US is no longer a triple-A sovereign credit, but top banks think investors are focused on other market narratives, with volatility to be short-lived.
Investors will get the first chance to react to Moody’s downgrade of the U.S. credit rating late Friday over rising government debt and they’ll also look for more progress from President Trump on trade deals as the week kicks off.
Stock futures pointed lower on Sunday evening as investors weighed fresh warnings on U.S. debt and the potential for President Donald Trump's trade war to heat up again. Late Friday, Moody's downgraded the U.
The U.S. dollar slipped in early Asian trading, trimming a four-week winning streak as markets reacted to a surprise downgrade of Americas credit rating and persistent global trade tensions. The greenback had gained 0.
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Free Malaysia Today on MSNMoody’s US downgrade revives mini ‘sell America’ sentimentUS equities, bonds, and the dollar retreat in early Asian trading following the credit rating drop to Aa1 from Aaa.