Global banks rattled after Moody's cuts, Italy windfall tax

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Global banks rattled after Moody's cuts, Italy windfall tax
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*MOODY’S DOWNGRADES 10 MID-SIZED U.S. BANKS AND PLACES CREDIT RATINGS OF 6 MAJOR BANKS ON REVIEW FOR DOWNGRADE 🇺🇸🇺🇸

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Italy slaps 40% one-off windfall tax on its banksItaly slaps 40% one-off windfall tax on its banksEuropean bank shares tumble as Italy approves a 40% windfall tax on banks for 2023, causing concerns in the sector due to surging profits and rising global interest rates. Euro zone banks experience a 3.7% drop, the largest since the banking sector turmoil in March. Italy's Intesa Sanpaolo and UniCredit, its two largest lenders, see losses of 7.9% and 6.6% respectively.
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