US bank stocks slump on Fitch downgrade warning, 10-year US yield turns south
Fitch Ratings analyst told CNBC on Tuesday that the agency could downgrade several big lenders, including JPMorgan, as reported by Reuters.
The financial-heavy Dow Jones Industrial Average opened in negative territory following this headline and was last seen losing 0.6% on a daily basis. Reflecting the poor performance of bank stocks, the S&P 500 Financials Index was down more than 1% at the time of press.
Meanwhile, the benchmark 10-year US Treasury bond yield turned negative on the day below 4.2%, causing the US Dollar Index to erase the gains it posted after the upbeat US Retail Sales data for July.
US Dollar price today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.