Global Markets Tumble Amid U.S. Debt Concerns and Tariff Turmoil

Global markets are on edge as U.S. Treasury yields rise and stock futures slip, following the Moody's downgrade of the U.S. sovereign credit rating. Concerns over U.S. debt and potential new debt from tax cuts fuel the uncertainty. Tariff issues persist, affecting market sentiment worldwide.

Global markets saw volatility after U.S. Treasury yields rose and stock futures slipped on concerns about the nation's growing debt and deficits following Moody's downgrade of its sovereign credit rating.

In both Europe and Asia, shares fell as mixed Chinese economic data indicated struggles, coupled with ongoing U.S. trade tensions and legislative developments potentially adding trillions to U.S. debt.

High-level meetings continue between U.S. and European leaders on trade issues, as market players remain wary of further disruptions from uncertainties in tariffs and fiscal policy.

(With inputs from agencies.)