America is in trouble. The Biden Economy is about to implode. 🚨🚨🚨 We are warning you as best we can in this series.
Banks are under stress, and even some of the TOP names just got downgraded.
Check this out:
🚨 Regional Banks downgraded S&P Global ratings…👀$SPY $QQQ pic.twitter.com/N6ptcatmxO
— 🅰️tØⓂ️i☪️Apę (@All_In_AMC) August 22, 2023
Reuters just reported:
Shares of several U.S. banks fell on Tuesday, the day after ratings agency S&P Global followed Moody’s in cutting its credit ratings on some regional lenders with high commercial real estate (CRE) exposure.
S&P’s action will make borrowing more costly for a banking sector aiming to recover from a crisis earlier this year, when three regional lenders failed, prompting broader industry turmoil.
“Some of the structural aspects for banks, regarding their balance sheet, remain risks to banks, as the Fed continues to try to anchor inflation with higher rates for longer,” said David Wagner, portfolio manager at Aptus Capital Advisors.
When banks like Silicon Valley Bank failed in the spring, interest in physical gold and silver began skyrocketing. So many Americans moved retirement accounts to precious metals that some companies had a hard time keeping up with demand.
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