India, May 19 -- Asian stocks ended lower on Monday as Moody's downgrade of the U.S. credit rating reinforced Wall Street's growing worries over the U.S. sovereign bond market.
Moody's cut the credit rating of the U.S. by a notch to Aa1 from the highest triple-A rating, citing the government's massive budget deficit and high interest rates.
The U.S. dollar dipped, while the yield on the 10-year U.S. Treasury rose to 4.52 percent from 4.44 percent amid renewed trade tensions.
U.S. Treasury Secretary Scott Bessent said in television interviews on Sunday that President Donald Trump is employing "strategic uncertainty" as a negotiating tactic in his trade talks and that tariffs will be imposed at the rate he threatened last month if countrie...