WALL Street pundits and investors are schizophrenic about the US dollar. The currency weakened after Moody’s cut the US credit rating by one notch from Aaa (the highest rating) to Aa1, attributing the downgrade to the increasing fiscal deficit, as well as the rising interest rate costs on federal government debt.
On the other hand, the S&P 500 not only recovered after Donald Trump’s April tariff shock, but is now only 3.4% off its record high last February.
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