Wall Street Slides as Moody’s Downgrades Stoke Banking Concerns

Wall Street Slides as Moody’s Downgrades Stoke Banking Concerns
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on July 19, 2023. Brendan McDermid/Reuters
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Wall Street’s main indexes opened lower on Tuesday as financial stocks dropped after Moody’s cut credit ratings of several small- to mid-sized U.S. banks and said it could downgrade some of the country’s biggest lenders.

The Dow Jones Industrial Average fell 127.73 points, or 0.36 percent, at the open to 35,345.40.