Moody’s cuts outlook on U.S. banking system to negative, citing ‘rapidly deteriorating operating environment’

In a harsh blow to an already-reeling sector, Moody’s Investors Service cut its view on the entire banking system to negative from stable. 

The firm, part of the big three rating services, said Monday it was making the move in light of key bank failures that prompted regulators to step in Sunday with a dramatic rescue plan for depositors and other institutions impacted by the crisis.

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-WiscoDave