Moody's warns of potential recession triggered by banking crisis.
Moody's warns that there is a rising risk that banking-system stress will spill over into other sectors and the US economy, unleashing greater financial and economic damage than anticipated. The agency's baseline view is that US officials will broadly succeed, but there is still lingering worry. The risk is that officials will be unable to curtail the current turmoil without longer-lasting and potentially severe repercussions within and beyond the banking sector.