Sector Update: Financial

MT Newswires Live03:31

Financial stocks declined in late Wednesday afternoon trading with the NYSE Financial Index falling 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 0.4%.

The Philadelphia Housing Index shed 1.9% and the State Street Real Estate Select Sector SPDR ETF (XLRE) lost 1.4%.

Bitcoin (BTC-USD) fell 2% to $84,447, and the yield for 10-year US Treasuries jumped 15 basis points to 5.11%.

In corporate news, BlackRock (BLK) is directing more money into large-cap stocks in the US and is shifting some of its AI exposure from industry pioneers toward later adopters, Bloomberg reported, citing an investment outlook. BlackRock shares fell 0.5%.

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