Moody's cuts credit ratings of ten US banks and warns six more could face a similar fate - but firm insists 'US banking system is NOT broken'

Source: London Daily Mail
Published: Aug 13, 2023
Author: Tilly Armstrong and Keith Griffith
Post Date: 2023-08-13 03:12:56 by Charles_Byrd
Views: 244

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.

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