NEW YORK (AP) — U.S. stocks, bonds and the value of the U.S. dollar are drifting lower on Monday following the latest reminder that the U.S government seems to be hurtling toward an unsustainable mountain of debt.
The S&P 500 was down 0.3% in midday trading after Moody’s Ratings became the last of the three major credit-rating agencies to say the U.S. federal government no longer deserves a top-tier “Aaa” rating. The Dow Jones Industrial Average was down 29 points, or 0.1%, as of 11:55 a.m. Eastern time, and the Nasdaq composite was 0.4% lower.
Moody’s pointed to how the U.S. government continues to borrow more and more money to
→ Continue reading at The Associated Press
