US Stock Market LIVE: S&P 500 falls slightly to start week after Moody’s downgrade sends yields higher

US Stock Market LIVE: US stocks, bonds and the value of the US 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.

US Stock Market LIVE: US stocks, bonds and the value of the US 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 pay for its expenses, with political bickering making it difficult to either rein in Washington’s spending or raise its revenue in order to get its ballooning debt under more control.