Major indexes are lower after Moody's downgraded its credit ratings of 10 US banks and placed six others under review for potential downgrades.
Portfolio Pulse from Benzinga Newsdesk
Moody's has downgraded its credit ratings of 10 US banks and placed six others under review for potential downgrades. This has led to a decrease in major indexes.
August 08, 2023 | 1:36 pm
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NEGATIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) may be negatively impacted by the credit rating downgrades of US banks.
The DIA tracks the Dow Jones Industrial Average, which includes large, blue-chip US companies. A downgrade in credit ratings of US banks can negatively impact these companies and thus the DIA.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75
NEGATIVE IMPACT
The Russell 2000 ETF (IWM) may be negatively impacted by the credit rating downgrades of US banks.
The IWM tracks the Russell 2000 Index, which includes small-cap US companies. A downgrade in credit ratings of US banks can negatively impact these companies and thus the IWM.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75
NEGATIVE IMPACT
The NASDAQ 100 ETF (QQQ) may be negatively impacted by the credit rating downgrades of US banks.
The QQQ tracks the NASDAQ 100 Index, which includes large-cap US companies. A downgrade in credit ratings of US banks can negatively impact these companies and thus the QQQ.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75
NEGATIVE IMPACT
The S&P 500 ETF (SPY) may be negatively impacted by the credit rating downgrades of US banks.
The SPY tracks the S&P 500 Index, which includes large-cap US companies. A downgrade in credit ratings of US banks can negatively impact these companies and thus the SPY.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75