Michael Burry's $1.6 Billion on Market crash, Fitch's downgrades and Goldmann sach cuts 3200 jobs.

Fitch Ratings warned that the US banking industry has inched closer to another turbulence — the risk of rating downgrades on dozens of US banks that could even include JPMorgan Chase, a report from CNBC said Tuesday. Renowned investor Michael Burry, famed for his accurate prediction of the 2008 housing market collapse, has made a substantial wager of more than $1.6 billion on a potential Wall Street downturn. According to recently released Security Exchange Commission filings, Burry's bearish bets target the S&P 500 and Nasdaq 100 indices, with his fund, Scion Asset Management, investing $866 million in put options against an S&P 500 tracking fund, and $739 million in put options against a Nasdaq 100 tracking fund. Goldmann sachs's cuts 3200 jobs