Sector Update: Financial

MT Newswires Live03:29

Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index decreasing 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1%.

The Philadelphia Housing Index declined 2.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) lost 1.2%.

Bitcoin (BTC-USD) dropped 3.5% to $71,374, and the yield for 10-year US Treasuries rose 5.7 basis points to nearly 4.26%.

In corporate news, loans originated by fintech lenders including Affirm (AFRM) and Upstart (UPST) are among the assets held by a private-credit fund that has restricted investor withdrawals, The Wall Street Journal reported Wednesday, citing a Stone Ridge Asset Management investor update. Affirm shares fell 4.8%, and Upstart dropped 5.2%.

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