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Wall Street slipped as worries about the banking system and the global economy forced more caution into financial markets worldwide. The S&P 500 fell 0.4% Tuesday and at one point
NEW YORK (AP) — Stocks closed lower on Wall Street as worries about the banking system and the global economy inject more caution into financial markets worldwide. The S&P 500 fell 0.4% Tuesday after paring an earlier loss.
Ten regional banks have had their credit ratings downgraded by risk rating firm Moody's - which has warned it is considering downgrading six others.
Credit rating agency Moody's Investors Service downgraded 10 regional banks and put six other lenders on notice that they are under review, the latest blow to an industry still reverberating from the March banking crisis that led three firms to collapse.
The Australian sharemarket opened in the green even as US stocks fell overnight amid concerns about the global economy.