S&P 500, Nasdaq futures drop over 1.3% ahead of Wall St. open after Moody's US credit ratings cut, Dow down 0.9%

US benchmark equity indices S&P 500 and Nasdaq futures dropped over 1.3 per cent ahead of Monday's Wall Street open after ratings firm Moody's cut the US credit ratings over the weekend. The Dow futures were down 0.9%, along with US bonds and dollar. 

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