Major indexes are lower after Moody's cut its US credit outlook from 'stable' to 'negative.'
Portfolio Pulse from Benzinga Newsdesk
Moody's has downgraded the US credit outlook from 'stable' to 'negative,' leading to a decline in major indexes.
November 13, 2023 | 4:05 pm
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NEGATIVE IMPACT
The Russell 2000 ETF (IWM) is likely to experience short-term negative impact due to Moody's downgrade of US credit outlook.
As IWM tracks small-cap stocks, which are often more sensitive to economic outlook changes, the negative sentiment from Moody's could lead to a decrease in investor confidence and a potential drop in IWM's price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The NASDAQ-100 tracking ETF (QQQ) may see a short-term decline as Moody's downgrades the US credit outlook.
QQQ, which includes tech giants, may be negatively affected as the credit outlook downgrade could lead to broader market uncertainty, potentially impacting tech stock valuations.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The S&P 500 ETF (SPY) is expected to face a negative impact in the short term following Moody's US credit outlook downgrade.
SPY, which mirrors the S&P 500, is likely to be adversely affected as the downgrade could dampen investor sentiment and lead to a pullback in the broader market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80