JPMorgan drags blue chips down, Nasdaq gains -October 13, 2011 04:29 PM ET
NEW YORK – The Dow and S&P 500 slipped on Thursday after JPMorgan’s earnings and China’s soft trade data revived worries about the impact of slower growth on profits. | Full Article
Fitch puts three U.S. banks on review for downgrade
October 13, 2011 04:42 PM ET
(Reuters) – Fitch Ratings placed Bank of America Corp , Morgan Stanley and Goldman Sachs Group Inc on review for possible downgrades on Thursday. |
The ratings agency, which also put six European banks on review for downgrades, said the institutions’ viability ratings and long-term issuer ratings were on “negative” watch as its analysts engage with the companies and review any new information they receive.
The cuts would in most cases be one notch and in some cases two notches, Fitch said.
“These institutions’ business models are particularly sensitive to the increased challenges the financial markets are facing,” Fitch said in a press release. “These challenges result from both economic developments, particularly in the euro area, as well as a myriad of regulatory changes.”