Moody’s Ratings cut its credit ratings on JPMorgan Chase, Bank of America and other banks on Monday, following a downgrade on the U.S. debt. The bank stocks are largely holding their ground as investors expected the news.

US stocks came back from steep losses on Monday as Wall Street shrugged off Moody's downgrade of the US credit rating and investors digested developments in President Trump's tariff salvos. Moody’s cut the US government’s long-term credit rating from AAA to AA1 late Friday,