Wall Street opens in red and the Dow Jones falls 0.79%

Wall Street opened in red and the Dow Jones Industrials, its main indicator, was down 0.79%, when US banks were affected by Moody’s poor rating.

Ten minutes after the start of operations on the New York Stock Exchange, the Dow Jones stood at 35,196 units and the selective S&P 500 lost 0.67%, up to 4,487 points.

For its part, the composite index of the Nasdaq market, in which the main technology companies are listed, fell 0.81%, to 13,880 integers.

Bank shares fell after ratings agency Moody’s downgraded its credit ratings on several banks, including M&T Bank and Pinnacle Financial. The rating agency also put Bank of NY Mellon and State Street on review for a downgrade.

This news also affected the giants Goldman Sachs (-2.82%) and JPMorgan Chase (-2.25%).

The regional banking SPDR S&P (KRE) ETF, which tracks a group of smaller banks, fell 4%.

Business results continued on Tuesday and shares of United Parcel Service (UPS), the world’s largest courier company, fell 1.26% after reporting weaker-than-expected revenue and lowering its full-year revenue outlook. .

Overall, however, the earnings season so far has been better than expected.

By sectors, losses reigned and the biggest falls were for energy and raw materials, which fell 2% and 1.8%, respectively. While the only increase was for the toilet, which earned 0.77%.

Among the 30 Dow Jones stocks, the biggest losses were for Goldman Sachs (-2.82%) and JPMorgan Chase (-2.25%), while the biggest gains were for Amgen (3.14%) and Merck (0 .61%).