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Global markets tumble as Moody’s downgrades US credit rating amid rising debt concerns
Global stock markets faced a downturn after Moody's Ratings downgraded the United States' credit rating. This news impacted US futures and the dollar. European and Asian markets also experienced declines. China's economic data revealed slower growth in retail sales and industrial output. Oil prices weakened. This sell-off occurred after a strong week on Wall Street.
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