The move came as Republicans seek to approve a large package of tax cuts, spending hikes and safety-net reductions which could add trillions of dollars in U.S. debt.

Treasury Secretary Scott Bessent downplayed the U.S. credit downgrade as a "lagging indicator" of economic and fiscal conditions, after Moody's took the U.S. off its top tier.

Moody’s Ratings has joined Fitch Ratings and S&P Global Ratings as the last credit agencies to downgrade the U.S. economy, the world’s largest. The agency cited the country’s

If the U.S.’s loss of its final perfect credit rating boosts yields on Treasury debt, it likely would boost the cost of borrowing for both companies and consumers.

The U.S. government is spending far more than it takes in as revenue, causing ever-rising debt — and there is no sign that will change anytime soon. The big picture: Those facts are well-known to anybody who has taken a cursory look at the government's books.

CNBC's 'Mad Money' host and veteran market commentator Jim Cramer has urged investors not to get nervous in the face of concerns like the Moody’s downgrade of U.S. debt . The U.S.'s rising debt stands at $36 trillion as of now.

Though little is known about Deimos, another European spacecraft recently captured unprecedented views of the moon's far side. The Hera mission, which will study the asteroid NASA intentionally crashed into three years ago, flew by the Red Planet on March 12, just 11 days after the rover looked up.