Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. Stocks sink Eli Lilly surges Palo Alto slumps 1. Stocks sink U.S. stocks tumbled Tuesday after Moody’s downgraded the credit rating on a slew of small and mid-sized banks, sending shares of financials into a tailspin. Economic data released overnight showed a slump in Chinese imports and exports in July, adding to U.S. market worries. The Dow plunged more than 300 points or roughly 1%. The S & P 500 also lost about 1%. The tech-heavy Nasdaq was hit harder, down about 1.3%. Still, the Moody’s cut shouldn’t directly impact our portfolio as the Club invests in larger banks, Wells Fargo (WFC) and Morgan Stanley (MS), instead of the much smaller firms targeted. With additional cash on hand, the intensified Wall Street selloff gave us another reason to buy , picking up some more Coterra Energy (CTRA) shares.
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