Wall Street Strategists React to Moody’s US Credit Rating Cut

US stocks declined and Treasury yields rose after Moody’s Ratings downgraded the US credit rating, citing an increase in government debt and a higher interest burden.

An exchange-traded fund tracking the S&P 500 Index fell 1% in postmarket trading after the agency downgraded the nation’s score to Aa1 from Aaa. The Invesco QQQ Trust Series 1 ETF declined 1.3%, while Treasury futures closed at session lows. The Bloomberg Dollar Index paused trading at 4 p.m. in New York before the announcement by Moody’s.