HONG KONG (AP) — Global shares fell Monday and U.S. futures and the dollar also weakened after Moody’s Ratings downgraded the sovereign credit rating for the United States because of its failure to stem a rising tide of debt.

Credit rating firm Moody’s downgraded the rating on U.S. sovereign credit on Friday, citing concern over the growth in the nation’s debt over the past decade and the nation’s high interest payments. The change means the United States’ rating dropped one notch from below its former triple-A rating,

Moody’s Ratings downgraded the United States’ debt on Friday, stripping the country of its last perfect credit rating. The move could rattle financial markets and push up interest rates.Video above: Best money moves to make right now in a volatile ...

U.S. stocks open lower after Moody's stripped the U.S. of its top credit rating. Treasury yields jump as investors demand more payout to hold US debt.

Moody’s Ratings’ downgrade of the U.S. to Aa1 may create near-term volatility, but the U.S. budget is an even bigger concern, says RBC BlueBay Asset Management’s Russel Matthews. “We are at a critical point with the progression of the 10-year plan for the U.