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U.S. stock index futures declined Sunday evening following Moody’s downgrade of the U.S. credit rating, raising concerns over mounting debt and economic uncertainty. The ratings agency lowered the sovereign credit score from Aaa to Aa1, citing the growing $36 trillion national debt and limited progress in reducing government spending, despite measures promoted by the Trump administration, including efforts led by Elon Musk’s Department of Government Efficiency.
The downgrade adds pressure on financial markets, especially as President Donald Trump’s trade policies remain under scrutiny. Trump recently stated that Walmart should absorb higher costs from import tariffs, warning the retail giant against raising prices. Walmart responded by saying it couldn’t fully offset the increased costs, even after the recent easing of U.S.-China tariffs, suggesting price hikes on Chinese imports are inevitable.
Markets, which had rallied last week on hopes of a cooling U.S.-China trade war, appeared to lose momentum. On Friday, the S&P 500 rose 0.7% to 5,958.38, the Nasdaq gained 0.5% to 19,211.0, and the Dow Jones climbed 0.8% to 42,654.74. However, this optimism faded over the weekend as investors refocused on broader macroeconomic risks.
By 19:52 ET, S&P 500 futures had slipped 0.6% to 5,942.25, Nasdaq 100 futures dropped 0.5% to 21,393.50, and Dow Jones futures fell 0.6% to 42,489.0.
Trump’s insistence on tariffs as a revenue tool continues to raise alarms across corporate America, especially among import-reliant companies. Walmart, seen as a barometer of U.S. consumer health, underscored the broader strain on businesses and households as costs rise. With Moody’s downgrade and tariff tensions in play, market volatility may persist in the near term.
