US stocks fall over 1%

US stock indexes fell following the trading on August 15, the S&P 500 ended the session at a minimum for a month, Report informs referring to Interfax citing MarketWatch.

The pressure on the market was exerted by weak statistical data from China, which provoked a general deterioration in risk appetite. At the same time, the report on the dynamics of retail sales in the US in July, which turned out to be better than experts’ expectations, caused a new wave of fears regarding a further increase in the rate by the Federal Reserve System.

US retail sales rose 0.7% from June, the most in six months, the country’s Commerce Department said. Experts polled by Trading Economics on average predicted their increase by 0.4%.

Fitch analyst Chris Wolfe said in an interview with CNBC that the agency is likely to have to downgrade many US banks that were put on review in June. If Fitch cuts its outlook for the US banking sector as a whole by one notch to 'AA-' from 'A+', it will have to revise the ratings of more than 70 US financial institutions, including such majors as JPMorgan Chase & Co. and Bank of America Corp., Wolfe noted.

Shares of JPMorgan fell 2.6% in trading, Bank of America had their shares fall by 3.2%.

Quotes of securities of regional banks KeyCorp, Comerica Inc., Citizens Financial Group and Capital One Financial Corp. fell by 3.5%, 4.5%, 4.4% and 2.1% respectively.

The Dow Jones Industrial Average fell 361.24 points (1.02%) on August 15 trading to 34,946.39 points.

Standard & Poor’s 500 fell 51.86 points (1.16%) to 4,437.86 points.

The Nasdaq Composite lost 157.28 points (1.14%) to 13,631.05 points.