Dow Jones and Standard & Poor's are falling as bank stocks decline

The Dow Jones and the Standard & Poor's index declined, with the financial sector declining by 0.9%, the KBW Regional Banks Index (.KRX) declining by 2.7%, and the S&P 500 Banking Index (.SPXBK) declining by 2.4% after Standard & Poor's downgraded the credit rating of many American banks.

Nvidia shares continued to rise to an all-time high of $481.87 during the session, but fell by 2.8% during the day, Macy's (M.N) shares fell by 14.1%, Kohl's Corp (KSS.N) shares fell by 10.3%, and Nordstrom shares also fell Inc (JWN.N) by 9.8%.

The Dow Jones Industrial Average fell 174.86 points, or 0.51%, to 34,288.83 points. The Standard & Poor's 500 Index fell by 12.22 points, or 0.28%, to 4,387.55 points, while the Nasdaq Composite Index rose 8.28 points, or 0.06%, to 13,505.87 points.

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