Bank of America, Moodys and Wells Fargo
Digest more
Moody's on Monday downgraded the long-term ratings of top American lenders such as JPMorgan Chase , Bank of America and Wells Fargo , after pushing the U.S. out of top triple-A rating club over its burgeoning $36 trillion debt.
2d
Stocktwits on MSNJPMorgan, BofA, Wells Fargo Retail Traders On Edge After Moody's Cuts Deposit Ratings For Big Banks After US Credit DowngradeU.S. bank stocks drew retail attention on Monday after Moody’s downgraded the long-term deposit ratings of Bank of America (BAC), Wells Fargo (WFC), and JPMorgan Chase & Co. (JPM) on concerns over the government’s ability to provide support.
Economists consider Moody's downgrade justified, given the U.S.'s reluctance to address its rising debt and deficit.
Moody's has downgraded deposit ratings of top US lenders JPMorgan Chase, Bank of America and Wells Fargo just days after stripping the nation of its triple-A rating.
How could the downgrade impact Americans? The dip in the U.S. credit rating indicates that ratings agencies believe the government is at a higher risk of default on its debt. Whil