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Wall Street closes in red and the Dow loses 0.45% after Moody’s downgrade to banks

Wall Street closed this Tuesday in red and the Dow Jones Industrials, its main indicator, lost 0.45% after the Moody’s agency downgraded the rating of a dozen US regional banks and put the note of other entities under review. powerful.

At the end of operations on the New York Stock Exchange, the Dow Jones fell to 35,314.49 points, while the selective S&P 500 dropped 0.42%, to 4,499.38, and the Nasdaq market composite index fell 0.79%, up to 13,884.32 units.

Moody’s decision, announced late on Monday, affected the price of the banking sector since the opening and dragged down the rest of a stock that had already seen widespread losses last week.

By the end of the day, however, banks managed to moderate their declines – which had been quite sharp at the start of the day, with many trailing 3-4% – and ended with limited reversals.

Among those directly affected by the agency’s downgrade, M&T Bank fell 1.41%, Pinnacle Financial 2.12%, Commerce 0.86%, Old National Bancorp 1.56%, Webster Financial 0, 91% or Fulton Financial 2.19%.

Of the banks Moody’s placed under review for a possible downgrade, Bank of New York Melon lost 1.32%, State Street 1.60%, Truist Financial 0.55% and US Bancorp gained 0.27%.

The big banks also managed to limit losses as the trading session went by and at the close the setbacks were not too big: JPMorgan Chase (-0.56%), Citigroup (-1.46%), Bank of America (-1 .91%) and Wells Fargo (-1.29%).

As a whole, the financial sector lost 0.87% today and led the falls along with non-essential goods companies (-0.87%) and raw materials (-1.05%). Only the health sector (0.78%), public services (0.49%) and energy (0.49%) closed in green.

Among the thirty Dow Jones stocks, the biggest falls were for Salesfroce (-2.07%), Goldman Sachs (-2.05%) and Travelers (-1.32%), while the best performers were Amgen (3 11%), Disney (1.50%) and Apple (0.53%).

This Tuesday, more American companies continued to present business results, with United Parcel Service (UPS) as the most prominent.

The world’s largest courier company lost 0.88% on the stock market after reporting weaker-than-expected revenue and lowering its full-year billing outlook.

In other markets, Texas oil rose to US$ 82.92 a barrel and, at the close of the stock market, gold fell to 1,959.4 dollars an ounce, the yield of the US ten-year bond fell to 4.026% and the dollar gained ground against the euro, with a change of 1,096.

Source: Elcomercio

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