Wall Street Shaken by Moody's, This Happens to US Stocks!

<p>&nbsp;Turmoil hit Wall Street on Tuesday, with all three major indexes closing in the negative after ratings agency Moody's expressed concern about the health of US banking.</p><p><br /></p><p>Ten small US lenders have had their ratings downgraded, while big banks such as Bank of New York Mellon and Truist Financial are under scrutiny for possible future downgrades.</p><p><br /></p><p>The agency further warned of possible problems ahead in the banking sector, pointing to possible funding risks and dwindling profits.</p><p><br /></p><p>Following that, it can be seen that the shares of major banks such as Goldman Sachs fell 2% and Bank of America fell 1.9%, while Bank of New York Mellon fell 1.3% and Truist declined 0.6%.</p><p><br /></p><p><br /></p><p>Overall, the Dow Jones index fell 0.45% to 35,314.49, the S&amp;P 500 lost 0.42% to 4,499.38 and the Nasdaq declined 0.79% to 13,884.32.</p><p><br /></p><p>The US30 index was slightly changed at around 35,305.60 during the Asian session.</p><p><br /></p><p>Meanwhile, healthcare stocks gained after being supported by Eli Lilly which jumped 14.9% following an encouraging quarterly report.</p><p><br /></p><p>Shares of drugmakers around the world also rose after Denmark-based Novo Nordisk said its obesity drug, Wegovy, could reduce the risk of heart disease.</p>