Fitch: U.S. bank outlook could worsen over Europe

[Roland99]

Source: MarketWatch

Fitch Ratings said Wednesday that the credit outlook for U.S. banks can worsen if the euro-zone debt crisis is not resolved in a timely manner. "Fitch's current outlook for the industry is stable, reflecting improved fundamentals at most banks combined with ratings lower than at pre-crisis levels. However, risks of a negative shock are rising and could alter this outlook," the ratings agengy said. Fitch maintained Europe's sovereign debt crisis still poses a threat to U.S. banks even though the institions have reduced their exposure to the region over the past year.

Read more: http://www.marketwatch.com/story/fitch-us-bank-outlook-could-worsen-over-europe-2011-11-16?link=MW_home_latest_news

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U.S. markets closed near their lows for the day after that news.