Why KeyCorp Stock Is Falling

KeyCorp KEY shares are trading lower by 2.57% to $10.61 Tuesday morning. The stock is falling after S&P Global Ratings downgraded the bank.

S&P Global Ratings is a reputable entity that assesses the creditworthiness of financial institutions. A downgrade in KeyCorp's credit rating by S&P could indicate increased risk associated with the bank's financial stability and ability to meet its obligations.

This could shake investor confidence and prompt them to sell shares due to concerns about potential financial challenges.

What Happened?

S&P Global Ratings has cast a spotlight on the challenges faced by several U.S. regional banks, resulting in a series of downgrades that have reverberated through the financial sector.

According to the renowned rating agency, the Federal Reserve’s tight grip on monetary policy is now putting a strain on the funding, liquidity, and revenue of many U.S. banks. Among the banks affected by the downgrades...Read More

According to data from Benzinga Pro, KEY has a 52-week high of $20.30 and a 52-week low of $8.54.