A Tough Day for Tech Was a Good Day for Banks -- WSJ

Dow Jones12-12

By Heather Gillers

Investors skittish about tech are showing renewed enthusiasm for banks.

State Street's bank-centric exchange traded fund, XLF, hit an all-time high Thursday after a one-day gain of more than 2%. The fund holds shares of banks, credit cards and Warren Buffett's Berkshire Hathaway.

Goldman Sachs and JPMorgan Chase both gained more than 2% Thursday. Visa climbed more than 6% after an upgrade from Bank of America.

"You're seeing money going back into financials in a big way," said Richard Steinberg, senior global market strategist at Focus Partners Wealth.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

December 11, 2025 16:33 ET (21:33 GMT)

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The fund holds shares of banks, credit cards and Warren Buffett's Berkshire Hathaway. \n\n\n     Goldman Sachs and JPMorgan Chase both gained more than 2% Thursday. Visa climbed more than 6% after an upgrade from Bank of America. \n\n\n     \"You're seeing money going back into financials in a big way,\" said Richard Steinberg, senior global market strategist at Focus Partners Wealth. \n\n\n       This item is part of a Wall Street Journal live coverage event. 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