Decreased credit ratings put pressure on the S&P 500
The Moody's Investors Service (Moody's) credit rating agency dropped the credit ratings of 10 small- and medium-sized US banks. In addition to that, the agency also put the ratings of several big banks up for review. The Fitch credit rating agency had previously dropped the United States' credit rating from AAA to AA+. The decreased ratings reflect increased pressure on the banking sector due to high interest rates and on the US economy as a whole. That's bad news for the S&P 500.
Disclaimer: The information in this article is not intended to be and does not constitute investment advice or any other form of advice or recommendation of any sort offered or endorsed by Libertex. Past performance does not guarantee future results.
Why trade with Libertex?
- Get access to a free demo account free of charge.
- Enjoy technical support from an operator 5 days a week, from 9 a.m. to 9 p.m. (Central European Standard Time).
- Use a multiplier of up to 1:30 (for retail clients).
- Operate on a platform for any device: Libertex and MetaTrader.