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Stocktwits on MSNJPMorgan, BofA, Wells Fargo Retail Traders On Edge After Moody's Cuts Deposit Ratings For Big Banks After US Credit DowngradeU.S. bank stocks drew retail attention on Monday after Moody’s downgraded the long-term deposit ratings of Bank of America (BAC), Wells Fargo (WFC), and JPMorgan Chase & Co. (JPM) on concerns over the government’s ability to provide support.
Treasury Secretary Scott Bessent downplayed the U.S. credit downgrade as a "lagging indicator" of economic and fiscal conditions, after Moody's took the U.S. off its top tier.