Sector Update: Financial

MT Newswires Live
2 hours ago

Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index falling 1.4% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 1.8%.

The Philadelphia Housing Index was gaining 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.1%.

Bitcoin (BTC-USD) was decreasing 0.1% to $86,534, and the yield for 10-year US Treasuries was slightly lower at 4.961%.

In corporate news, funds backed by Apollo Global Management's (APO) Atlas SP Partners face a potential loss of up to 860 million pounds ($1.1 billion) from the collapse of Market Financial Solutions earlier this year, Bloomberg reported, citing court-appointed administrators. Two entities that were part of the UK mortgage firm, Amber Bridging and Zircon Bridging, owe a combined 970 million pounds to Atlas, the report said. Apollo shares were down 2.3%.

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