Moody’s Investors Service downgraded the U.S. sovereign credit rating from Aaa to Aa1, marking the first time all three major credit rating agencies—Moody’s, S&P, and Fitch—have rated U.S. debt below the top tier.

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.

Investors largely shrugged off a downgrade of the U.S.'s credit rating in Monday trading as stocks ended the day mostly flat.

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.

Moody resident calls for action as loose dog problem persists

Gold prices fell Monday as the dollar dropped and safe-haven demand returned after Moody's downgraded the U.S. government's credit rating due to ballooning debt and deficits. Moody's cut the U.S. rating to Aa1 from Aaa,