The stock market experienced a downturn attributed to Moody's recent downgrade of U.S. debt rating from Aaa to Aa1, citing a combination of a growing budget deficit and high-interest rates. This downgrade has led to rising Treasury yields, pushing the 30-year yield above 5%, while major indexes like the Dow, Nasdaq, and S&P 500 reflect declines. Notably, technology stocks, particularly Apple, are facing pressures from regulatory probes, contributing to the overall negative sentiment in the market.
The markets are dealing with a setback due to Moody's downgrade of U.S. debt, causing a significant rise in Treasury yields and widespread declines in various sectors.
Moody's downgraded U.S. debt from the highest rating of Aaa to Aa1, citing budget deficits and high-interest rates as major issues impacting the nation.
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