Wall Street's major averages fell sharply on Monday after Moody’s Ratings decision to strip the U.S. of its last remaining top-tier credit score. Early on and the S&P 500 (SP500) was -0.9%, the Nasdaq Composite (COMP:IND) was -1%,

U.S. stocks sank early Monday, with the S&P 500 dropping 1% at the open, the Nasdaq sliding 1.3%, and the Dow Jones Industrial Average down 297 points, or about 0.6%. The VIX spiked 13% and gold pushed higher,

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.