US markets open lower as investors react to a historic US credit rating downgrade. Follow live updates.
A view of the U.S. Capitol dome on May 16 in Washington, DC. Drew Angerer/Getty Images
Higher yields could mean costlier mortgage and loan payments for consumers, which could hurt consumer spending and the US economy. “S&P downgraded the sovereign rating in 2011 and while it had a meaningfully negative impact on sentiment, there was no apparent forced selling at that time,” they said in a research note Wednesday.are the largest foreign investors in American government debt. Together they own $2 trillion, which is more than a quarter of the $7.6 trillion in US Treasury securities held by foreign countries. There's no evidence they're about to start selling off their holdings.
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