Fitch's Warning: Downgrades Loom for Major Banks, JPMorgan Included

Fitch Ratings has warned that multiple U.S. banks, including JPMorgan Chase, could face downgrades if the agency further reduces its assessment of the operating environment for the industry. Fitch had previously lowered the score of the U.S. banking industry's operating environment due to credit rating pressure, regulatory gaps, and uncertainty about interest rate hikes. Another downgrade would prompt Fitch to reevaluate ratings for over 70 U.S. banks. This comes after Moody's downgraded 10 mid-sized U.S. banks and indicated potential downgrades for others.