Wall street was being red on tuesday, bank stocks leading the way. Shares in Goldman Sachs fell 2 . The catalyst was moodys downgrading the Credit Rating on several small and me us banks, including mmt and pinnacle financial. The red flag is raised by the Ratings Agency including a potential recession as well as problem so to the commercial real estate set up. As one analyst put it, any doubts about regional banking is bad for market sentiment. That wasnt helped by data from new york federal reserve, which showed that for the first time americans owed more than 1 trillion on their credit cards. Traders have also been focused on corporate results, which so far have been better than expected. That was true for lyft was reported results after the us market close, ebbo s small arrival is forecasting higher revenue in the Third Quarter based in part on a post pandemic rebound in road sharing. Rivi and posted a narrower loss than expected and raised its Production Guidance for the full year.
prices of onions have led to electoral defeat in this country and they could also feed into higher consumer inflation at a time when the reserve bank of india is meeting later this week to decide on interest rates. and before we go, shares in investment giant softbank group have jumped about 2% this morning. that is after the company reported a surprise net loss of more than $3 billion for the first quarter. the bottom line was hit by a week yen and also a drop in the share prices of major holdings. that is it for this addition of asia business report. we will be back tomorrow morning. so do join us if you can. but for now, thank you forjoining us. bbc news bringing you different stories from across the uk.