Reuters / Lucas Jackson
- US stocks slid on Tuesday as investors fretted over the banking sector and China.
- A Fitch analyst said it could downgrade top US lenders, if the "operating environment" rating for the industry worsens.
- Meanwhile, China's economy continued to sputter in July, weighing on investor sentiment.
US stocks slid on Tuesday as investors fretted over the banking sector and took in data showing another weak month for China's economy.
Bank stocks fell after a Fitch analyst said it may downgrade a handful of US lenders, if the overall "operating environment" rating for the industry worsens further. Shares of JPMorgan, Bank of America, Citigroup, and Wells Fargo traded lower, while the SPDR S&P Regional Banking exchange traded fund fell 3%.