US banking industry grapples with credit rating cuts and rising consumer debt amid interest rate hikes

📆 09/08/2023 17:52:00
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Moody's cut the credit rating of several U.S. banks on Monday and said it may downgrade some of the nation's bigger lenders.

The health of the nation's banks is back in focus following news that Moody's downgraded 10 U.S. banks and put others on notice.

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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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