Stock futures fall after Moody's downgrades the U.S. credit rating
CBSN
Stock futures declined before the opening bell Monday after the U.S. credit rating was downgraded by Moody's Ratings on Friday.
As of 8:30 a.m. EST, S&P 500 futures had shed 65 points, or 1.1%, while Dow Jones Industrial Average futures declined 252 points or 0.6%. The tech-heavy Nasdaq Composite futures dropped 1.5%. The U.S. dollar also weakened, while Treasury yields rose.
News of a 90-day pause in high tariff rates between the U.S. and China bolstered investor confidence last week, leading to a rally on Wall Street. But Moody's announcement of a credit downgrade late Friday threatened take some wind out of investors' sails.
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