Moody’s ratings agency downgraded its previously top-notch rating of the U.S. government’s creditworthiness on Friday, citing “persistent, large fiscal deficits” that show no signs of slowing.

The U.S. government pulled in $258.4B in April, more than the $256.4B consensus, according to the U.S. Treasury's monthly statement released on Monday, as the U.S. collected more tariffs and ...