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.