U.S. futures fell after Moody’s Ratings downgraded the sovereign credit rating for the United States because of its failure to stem a rising tide of debt.

U.S. stock futures point to a lower open after Moody's stripped the U.S. of its top credit rating. Moodys cut its credit rating on Friday a notch to Aa1 from Aaa due to likely difficulty financng the federal government’s growing budget deficit and the ramifications of rolling over existing U.