Financial stocks were declining pre-bell Tuesday with the Financial Select Sector SPDR Fund (XLF) down 0.3% recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% higher.

B. Riley Financial (RILY) shares were up more than 1% after the company said it entered into an exchange agreement with an institutional investor that will reduce its outstanding debt by about $15 million.

Deutsche Bank (DB) has chosen Bitpanda's technology unit to help develop its digital asset custody service, Bloomberg reported, citing sources familiar with the matter. Shares of Deutsche Bank were down more than 1% pre-bell.