Wall Street’s main stock indexes dropped Tuesday after Moody’s slashed the credit ratings of several regional US banks and warned it may also downgrade some of the nation’s biggest lenders.

The move came months after a banking crisis sent shockwaves through the financial sector this spring, when the nation witnessed the three biggest US lender failures since the 2008 financial crisis.

The banking sector has since appeared to stabilize, but Moody’s new ratings moves rattled investors and sent shares of the ‘Big Four’ US banks – JPMorgan, Bank of America, Citigroup and Wells Fargo – down between 0.56 percent and 1.9 percent on the day…Source – Read More!

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