NEW YORK, March 15 (Xinhua) — U.S. stocks fell on Monday despite economic data showed good signs of recovery in industrial and manufacturing sectors, as Moody’s Investors Service warned that the U.S. could see a downgrade of its credit rating.

The dollar rose against its major counterparts after the credit rating agency said the U.S. and Britain moved closer to losing their AAA credit ratings due to their mounting debt burdens, putting pressures on riskier assets including commodities and equities.

The news cast shadows on market sentiment although economic data came in better than expected.

According to the Federal Reserve, U.S. industrial production rose 0.1 percent in February, while economists were expecting a slight drop.

Separately, the Federal Reserve Bank of New York released its Empire Manufacturing Survey on Monday, showing a decrease in its business conditions index to 22.86 in March from 24.91 in February. However, the report said new orders jumped sharply and labor markets showed signs of improvement.

The Dow Jones industrial average fell 34.54, or 0.33 percent, to 10,590.15. The Standard & Poor’s 500 index lost 6.83, or 0.59 percent, at 1143.16 and the Nasdaq dropped 19.11, or 0.81 percent, to 2,348.55.