<h1>US Credit Rating Downgrade Sparks Market Volatility as Economic Indicators Signal Potential Slowdown in Global Financial Landscape</h1> Asian financial markets experienced a downturn following Moody's downgrade of the United States' sovereign credit rating due to rising debt concerns. Chinese economic indicators showed slower growth, with retail sales and industrial output increasing less than anticipated. US stock futures and the dollar weakened. Market sentiment was influenced by trade tensions, inflation expectations, and potential interest rate adjustments. Major Asian indices, including Hong Kong's Hang Seng and Shanghai Composite, declined marginally.