Moody’s downgrades the U.S. credit rating for the first time since 1919, citing rising debt. Crypto markets react with Bitcoin and Ethereum slipping as investors weigh broader economic risks.

Moody’s lowered the U.S. credit score to Aa1 from Aaa on Friday, joining Fitch Ratings and S&P Global Ratings in grading the world’s biggest economy below the top, triple-A position. The one-notch cut comes more than a year after Moody’s changed its outlook on the U.S. rating to negative. The credit assessor now has a stable outlook.

The downgrade, which places the U.S. government one notch below Moody’s top Aaa status, comes as lawmakers weigh a budget that would extend significant tax cuts and boost spending for years