Greate news for investors: https://thedailyny.com/2023/08/08/the-stock-market-experiences-a-decline-in-response-to-moodys-caution-about-the-potential-credit-rating-downgrades-for-six-major-us-banks/
Moody’s has initiated a review of the credit ratings for six prominent US banks, which include Bank of New York Mellon, State Street, and Northern Trust. This development has triggered a decline in stock prices, causing investors to express concerns about potential future challenges within the banking sector.
The credit rating agency announced late on Monday that the evaluation of these three banks’ ratings was influenced by the ongoing strains experienced in the US banking industry. These pressures encompass heightened funding difficulties and potential vulnerabilities in the adequacy of capital that lenders are mandated to retain. (Press above link for full article)
Submitted August 09, 2023 at 12:18AM by CSmith89 https://ift.tt/xi5DaYS
