Moody's cuts ratings on 10 US banks; Dow Jones, Nasdaq plunge nearly 1%

Rating agency Moody’s on Monday downgraded the credit ratings of 10 U.S. banks by one notch. It also placed the ratings of six institutions, including some of the nation’s largest, on review for potential downgrades. The downgraded banks include Pinnacle Financial Partners, Prosperity Bank, BOK Financial Corp and M&T Bank Corp. Associated Banc-Corp was earlier downgraded in April.