NEW YORK (AP) — After recovering from an initial jolt, U.S. stocks drifted through quiet trading following the latest reminder that the U.S government may be hurtling toward an unsustainable mountain of debt. The S&P 500 rose 0.1% Monday after Moody’s Ratings became the last of the three major credit-rating agencies to say the U.S. government no longer deserves a top-tier “Aaa” rating. The Dow Jones Industrial Average added 0.3%, and the Nasdaq was little changed. In the bond market, the 30-year Treasury yield briefly jumped above 5% before calming. The issues Moody’s cited in its downgrade are all well known among investors.… Continue Reading
