Dow drops 280 points; Nasdaq declines 117 points after Moody's downgrades
The agency cut the ratings on 10 lenders by one notch and placed six banking giants, including Bank of New York Mellon , US Bancorp, State Street and Truist Financial, on review for potential downgrades. Big banks Goldman Sachs and Bank of America eased 2.7% and 3.6%, respectively, while Bank of New York Mellon and U.S. Bancorp shed 2.6% and 4.9%.
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