Moody's on Monday downgraded the long-term ratings of top American lenders such as JPMorgan Chase , Bank of America and Wells Fargo , after pushing the U.S. out of top triple-A rating club over its burgeoning $36 trillion debt.

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Moody's has downgraded deposit ratings of top US lenders JPMorgan Chase, Bank of America and Wells Fargo just days after stripping the nation of its triple-A rating.

Moody’s Ratings downgraded the United States’ debt on Friday, stripping the country of its last perfect credit rating. The move could rattle financial markets and push up interest rates, potentially creating an additional financial burden for Americans already struggling with tariffs and inflation.

The yield on both 10 and 30-year government bonds rose on Monday after another credit ratings agency downgraded the US on Friday.

Moody’s decision to join other major ratings agencies in downgrading the U.S.’s once-pristine credit rating could have a tangible impact on Americans’ wallets. The agency has dropped the U.S. sovereign credit rating—an assessment of the country’s ability to pay its debts—down one level from the highest possible Aaa to Aa1.

Dalio fears the U.S. will “print money” to pay off its debts, which creates a different problem for bondholders.