The corporate earnings season has so far been better-than-anticipated. The company also lowered its full-year revenue outlook. UPS shares slipped 0.9% after the delivery giant reported weaker-than-expected revenue for the second quarter. Traders also parsed through the latest batch of earnings. 'Any sort of reduction of faith in the regional banking system is really terrible for market sentiment.' 'It's not optional to have good credit ratings, because they need faith,' said Jay Hatfield, CEO of Infrastructure Capital Advisors, of regional banks. Meanwhile, M&T Bank finished nearly 1.5% lower. The regional bank ETF lost 28% in March amid the failure of Silicon Valley Bank. The SPDR S&P Regional Banking ETF (KRE) also lost 1.3%. Goldman Sachs and JPMorgan Chase slid around 2.1% and 0.6%, respectively, while the SPDR S&P Bank ETF (KBE) dropped 1.3%. Mellon and State Street on review for a downgrade. The credit agency also placed Bank of N.Y. Though all three indexes closed off their lowest respective points in the session, none ever broke into positive territory.īanks fell broadly after Moody's downgraded the credit rating on several regional banks, including M&T Bank and Pinnacle Financial, citing deposit risk, a potential recession and struggling commercial real estate portfolios. At session lows, both were down more than 1%. Tuesday was the fifth negative day out of six sessions for both the S&P 500 and the Nasdaq. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit

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