US stocks open lower as traders digest credit downgrade

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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Fitch downgrades US debt rating | CNN BusinessJUST IN: Credit rating agency Fitch has downgraded the US rating from its highest AAA rank to AA+
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