June S&P 500 E-Mini futures (ESM25) are down -1.22%, and June Nasdaq 100 E-Mini futures (NQM25) are down -1.59% this morning as sentiment took a hit after rating agency Moody’s downgraded the United States’ credit rating.
Late Friday, Moody’s Ratings lowered the U.S. credit score by one notch to Aa1, aligning with Fitch Ratings and S&P Global Ratings in grading the world’s largest economy below the top, triple-A position. Moody’s said the downgrade “reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns.” Speaking on NBC’s Meet the Press with Kristen Welker on Sunday, U.S. Treasury Secretary Scott Bessent dismissed concerns about the government’s debt, calling Moody’s a “lagging indicator.”
