CNBC is reporting that Moody’s is about to release its long-awaited reports on up to 15 major banks, with potentially huge ramifications. Among the banks that are expected to see its ratings slashed is Morgan Stanley (MS), which could see up to a three-notch downgrade. Bank of America (BAC), Goldman Sachs (GS), JPMorgan Chase (JPM), and Citigroup (C) could also see downgrades. Wells Fargo (WFC) isn’t on the list.
Anticipation about the downgrades appears to adding to the selloff today.
The results could send stocks swinging and could affect borrowing costs for major banks around the globe.
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