US stocks, bonds and dollar fall after the latest downgrade of the US government's credit rating

U.S. stocks, U.S. bonds and the value of the U.S. dollar are all falling following the latest reminder that the U.S. government seems to be hurtling toward an unsustainable mountain of debt. The S&P 500 sank 0.9% Monday after Moody’s Ratings became the last of the three major credit-rating agencies to say the U.S. federal government no longer deserves a top-tier “Aaa” rating. The Dow Jones Industrial Average dipped 222 points, and the Nasdaq composite lost 1.3%. The moves were sharper in the bond market, where the 30-year Treasury yield jumped back above 5%.