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Bank Stocks Cause A 200-Point Drop In The Dow

Stocks fell on Tuesday as a drop in bank shares impacted market optimism.

The Dow Industrial Average was down 212 points, or 0.6%. The S&P 500 fell 0.6%, and the Nasdaq Composite fell 0.8%.

Banks fell sharply when Moody’s cut the credit ratings of numerous banks, including M&T Bank and Pinnacle Financial. The credit agency also placed Bank of New York Mellon and State Street on evaluation for a downgrade.

Source (CNBC)

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