Group 1 - Moody's downgraded the US government's credit rating from "Aaa" to "Aa1" due to significant increases in government debt over the past decade and higher interest payment ratios compared to similarly rated countries [1][6] - The market reaction to this downgrade was relatively muted compared to the 2011 S&P downgrade, as investors were more prepared for the change [1][6] - Following the downgrade, the S&P 500 and Nasdaq indices experienced minor declines but recovered by the end of the trading day, indicating a more stable market response [6] Group 2 - The rise in US Treasury yields poses a greater risk to tech stocks than the credit rating downgrade itself, with the 10-year Treasury yield reaching 4.57% and the 30-year yield surpassing 5% [6] - Despite the challenges, the AI trend is providing a positive boost to the tech sector, with major cloud service providers planning to increase investments in AI infrastructure [6] - Five of the "Magnificent Seven" tech giants reported strong earnings in Q1, and investor confidence is improving, partly due to temporary tariff reductions announced by former President Trump [7]