At 2:45 PM Lisbon time, the Dow Jones index had declined by 0.41% to 42,480.46 points, while the tech-heavy Nasdaq fell by 0.81% to 19,054.88 points.
The broader S&P 500 index dropped 1.05% to 5,895.93 points.
On Friday, the Dow Jones Industrial Average climbed 0.78%, the Nasdaq saw gains, and the S&P 500 rose by 0.70%.
Following the close of Wall Street on Friday, Moody’s credit agency downgraded the U.S. debt rating from “AAA” to “Aa1,” thus removing its highest rating and aligning with the other two major credit rating agencies, Standard & Poor’s and Fitch, which had previously made similar adjustments.
The downgrade was attributed to the rising U.S. debt levels and its associated costs on the federal budget.
