US Stock Market Live: US stock futures have seen a slide in early trading on Sunday evening US time, as a credit rating downgrade of the world’s largest economy by Moody’s has hit sentiment. The Dow futures are down 280 points, while those on the S&P 500 and Nasdaq are down 50 points and 165 points respectively. Late on Friday, Moody’s downgraded US’ credit rating by one notch to Aa1 from Aaa, bringing the agency in-line with its peers. Watch this space for all the Live updates.
US Stock Market Live: US stock futures have seen a slide in early trading on Sunday evening US time, as a credit rating downgrade of the world’s largest economy by Moody’s has hit sentiment. The Dow futures are down 280 points, while those on the S&P 500 and Nasdaq are down 50 points and 165 points respectively. Late on Friday, Moody’s downgraded US’ credit rating by one notch to Aa1 from Aaa, bringing the agency in-line with its peers, citing the growing budget deficit and the ramifications of rolling over existing US debts amidst higher borrowing costs. The downgrade comes in a week where benchmark indices on Wall Street turned positive for the year as Wall Street cheered a temporary truce between the US and China with regards to tariffs. The Nasdaq jumped over 7% last week, while the S&P 500 gained on all five days, ending 5% higher on a weekly basis. The Dow also turned positive year-to-date after a 300-point surge on Friday. Crude prices are down in early trading, while Gold has seen a sharp rebound as equities took a hit. Yield on the 10-year is at 4.44%. Watch this space for all the Live updates.
