US assets faced renewed pressure on Monday as investors reacted to Moody’s downgrade of the country’s credit rating from Aaa to Aa1, citing a widening budget deficit. The move sent Treasury yields higher and S&P 500 ETF futures lower in early Asia trading. This was not caused by tariffs, but rather concerns over American debt.
Source: https://www.bloomberg.com/news/articles/2025-05-18/investors-await-another-monday-jolt-after-moody-s-downgrades-us