US stocks fall as Moody's downgrades drag bank shares lower

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US stocks fall as Moody's downgrades drag bank shares lower

Markets Insider2023-08-09

Gen Z is putting more stock into careers in finance, with one in four recent graduates considering the field a top career sector. Photo by...

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href=https://markets.businessinsider.com/news/stocks/stock-market-news-today-moodys-downgrade-sparks-bank-sell-off-2023-8><strong>Markets Insider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gen Z is putting more stock into careers in finance, with one in four recent graduates considering the field a top career sector.\n                            \n\n                                Photo by...</p>\n\n<a href=\"https://markets.businessinsider.com/news/stocks/stock-market-news-today-moodys-downgrade-sparks-bank-sell-off-2023-8\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4112","symbol_name":"金融交易所和数据","start_time":0,"source_url":"https://markets.businessinsider.com/news/stocks/stock-market-news-today-moodys-downgrade-sparks-bank-sell-off-2023-8","article_id":"2358734292","we_media_id":null,"thumbnails":["https://images2.markets.businessinsider.com/64d297d07d2e900019469be6?format=jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2358734292","pubTimestamp":1691526568,"columns":[],"sourceInfo":{"source_id":"marketsinsider","name":"Markets Insider"},"weMediaInfo":null,"summary":"Gen Z is putting more stock into careers in finance, with one in four recent graduates considering the field a top career sector.Stocks dropped Tuesday, with the Dow sliding more than 160 points and the Nasdaq shedding more than 120.Moody's bank downgrades late Monday added to the uncertain macroeconomic landscape.Bank stocks moved lower, and investors will look ahead to Thursday's CPI report.Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily.Access your favorite topics in a personalized feed while you're on the go.By clicking ‘Sign up’, you agree to receive marketing emails from Insider","collect":0,"end_time":0,"defaultTopTitle":"businessinsider.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4112":"金融交易所和数据","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","BK4548":"巴美列捷福持仓","BK4559":"巴菲特持仓","BK4585":"ETF&股票定投概念","MCO":"穆迪","BK4588":"碎股"},"translate_title":"美国股市下跌，穆迪下调评级拖累银行股走低","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MCO":1},"content_text":"Gen Z is putting more stock into careers in finance, with one in four recent graduates considering the field a top career sector.\n                            \n\n                                Photo by ANGELA WEISS/AFP via Getty Images\n                              \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n                                      Redeem now\n                                     \n\n\n\n \n\n\n \n \n\n\n \n \n\n\n\n\nStocks dropped Tuesday, with the Dow sliding more than 160 points and the Nasdaq shedding more than 120.\nMoody's bank downgrades late Monday added to the uncertain macroeconomic landscape.\nBank stocks moved lower, and investors will look ahead to Thursday's CPI report.\n\n\n                              Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily.\n                            \n\nLoading\nSomething is loading.\n\n\n\n\n\n\n\n\n\n\n\n\n\nThanks for signing up!\n\n\n                              Access your favorite topics in a personalized feed while you're on the go.\n                              \n                                download the app\n                               \n\n\n\n\n\nEmail address\n\n\n\n\n\n\n\n\n\n                                    By clicking ‘Sign up’, you agree to receive marketing emails from Insider\n                                    as well as other partner offers and accept our\n                                    Terms of Service and\n                                    Privacy Policy.\n                                        \n\nUS stocks declined on Tuesday, with Moody's downgrade of nearly a dozen US lenders pulling bank stocks lower. The ratings giant also put a handful of larger banks on review notice, including US Bancorp, Bank of New York Mellon, and Northern Trust. The smaller lenders that Moody's officially downgraded include Pinnacle Financial, Webster Financial, and M&T Bank. \"US banks continue to contend with interest rate and asset-liability management (ALM) risks with implications for liquidity and capital, as the wind-down of unconventional monetary policy drains systemwide deposits and higher interest rates depress the value of fixed-rate assets,\" Moody's analysts wrote in a Monday note. Meanwhile, corporate earnings continue to surprise to the upside. Already, 89% of S&P 500 companies have reported for the second quarter, and nearly 80% have beaten Wall Street expectations, FactSet data shows.On Thursday, investors will get the Consumer Price Index report for July, which will help inform the Federal Reserve's next policy move.   Here's where US indexes stood as the market closed 4:00 p.m. on Tuesday: S&P 500: 4,499.38, 0.42%Dow Jones Industrial Average: 35,314.49, down 0.45% (158.64 point)Nasdaq Composite: 13,884.32, down 0.79%Here's what else is going on: US companies are barreling toward a $1.8 trillion wall of maturing corporate debt.Markets are betting on a soft landing, but the economy still faces three key hurdles.A new class of weight loss drugs is powering massive stock gains for Novo Nordisk and Eli Lily.Bank of America said rising interest rates could threaten stock gains.These four sectors arebest-positioned for the second half of the year, according to JPMorgan.Home prices this summer have hit a new all-time high in most of the US. In commodities, bonds, and crypto: Oil prices climbed, with West Texas Intermediate up 107% to $82.82 a barrel. Brent crude, the international benchmark, inched higher 0.84% to $86.05 a barrel.Gold edged lower 0.50% to $1,960.20 per ounce.The 10-year Treasury yield ticked lower by five basis points to 4.018%.Bitcoin moved higher 2.74% to $29,861.01.\n\n\n\n\n\n\n\n                            Read next\n                          \n\n\n\nMI Exclusive\nMarkets\nstock market news\n\n                        More...\n                      \n\n\n\nClose icon\nTwo crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}