soon followed, leading to more concerns about the banking industry's stability.
M&T Bank, one of the banks whose credit rating was cut, fell 2%. Truist Financial, one of the banks that Moody's said it's reviewing for a possible downgrade, fell 2.1%.
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U.S. stocks open lower after weak China trade data, Moody’s downgrades U.S. banksU.S. stock indexes opened lower on Tuesday with financial stocks tumbling after Moody’s downgraded the credit rating of several small- to mid-sized U.S. banks and said it may lower the ratings on six major banks including U.S. Bancorp, State Street Corp., and Bank of New York Mellon Corp.
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