Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020.
REUTERS/Mike Segar/File PhotoAug 8 (Reuters) - Shares of U.S. banks fell in premarket trading on Tuesday after ratings agency Moody's downgraded 10 mid-sized lenders, reigniting investor concerns about the challenges facing the industry.
Moody's also warned it may cut ratings of some of the biggest U.S. lenders, and placed six of them under review for a potential downgrade.
"It is significant for U.S. growth too, as U.S. regional banks are the financing lifeblood for small and mid-size enterprises."
Shares of Bank of America (BAC.N), Citigroup (C.N) and JPMorgan Chase (JPM.N) fell more than 1%.
Persons:
Mike Segar, Moody's, Stuart Cole, JPMorgan Chase, Georgios Leontaris, Niket Nishant, Mayur, Shashwat Chauhan, Shounak Dasgupta, Saumyadeb
Organizations:
Wall, New York Stock Exchange, REUTERS, Bank of New York Mellon, U.S . Bancorp, Truist, Equiti, Bank of America, Citigroup, JPMorgan, Bank, EMEA, HSBC Global Private Banking, Wealth, Thomson
Locations:
Manhattan, New York City , New York, U.S, Silicon, Switzerland, Bengaluru