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.

Moody’s noted that while exporters are the most immediately affected by US tariff changes, the broader consequences are more far-reaching

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 downgrade of the U.S. sovereign credit rating late Friday appeared to have a modest impact on corporate bond market activity on Monday, as spreads widened slightly and new bond sales started the week softer than expected.

Wall Street stocks edged higher Monday (May 19) after shrugging off a spike in US Treasury bond yields following Moody's downgrade of the US credit rating. But yields subsequently eased as

Treasury Secretary Scott Bessent downplayed concerns over the US’s government debt and the inflationary impact of tariffs on companies including Walmart Inc., saying the Trump administration is determined to lower federal spending and grow the economy.

U.S. stock futures point to a lower open, a day after stocks made a comeback to close higher despite Moody's stripping the U.S. of its top AAA rating.