Major US lenders plunged during the trading session of Tuesday after Fitch Ratings cautioned that the agency could be forced to downgrade the credit ratings of numerous banks, including large lenders such as JPMorgan Chase.
The KBW Bank, a benchmark stock index of the banking sector, was trading more than 2% down after the market's opening. On its part, the S&P Regional Banking ETF (KRE), which covers the regional banks' segment of the S&P Total Market Index, was also trading lower, down by 2.11%.
At 9:53 am ET, KeyCorp plunged by 3.90%, followed by Comerica and Zions, down by 3.63% and 3.29%. JPMorgan, Wells Fargo, and Bank of America decreased by 1.75%, 1.60%, and 2.17% a minute later.
