Financial stocks were declining premarket Monday, with the Financial Select Sector SPDR Fund (XLF) down 0.1%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 0.5% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.6%.

HSBC Holdings' (HSBC) Swiss private bank is cutting ties with wealthy Middle Eastern clients as part of its efforts to reduce exposure to individuals considered high-risk, media outlets reported, quoting sources. Shares of HSBC Holdings were 0.2% higher pre-bell.

BlackRock (BLK) stopped fundraising for its latest Asian private credit strategy fund earlier this year, Bloomberg reported, citing people familiar with the matter. BlackRock shares were down more than 1% premarket.