Markets Set for Bumpy Ride After Moody's Downgrades US
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Good morning. Moody’s US credit downgrade sets the stage for a jolt to the trading week. Big Tech stocks go from a safe bet to a question mark. And Dubai’s sizzling real estate market is drawing the interest of Wall Street giants. Listen to the day’s top stories.
Traders are bracing for a rocky start to the week after the US was stripped of its last top credit rating by Moody’s, which cited mounting concern about debt as it knocked the country’s score down a notch, to Aa1 from Aaa. Treasury Secretary Scott Bessent downplayed the move, calling the credit rating firm a “lagging indicator” and once again touting the Trump administration’s determination to lower federal spending and grow the economy.