Sector Update: Financial Stocks Slide Friday Afternoon

01:53 PM EDT, 06/13/2025 (MT Newswires) -- Financial stocks fell in Friday afternoon trading with the NYSE Financial Index declining 1.5% and the Financial Select Sector SPDR Fund (XLF) dropping 1.7%.

The Philadelphia Housing Index lost 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) shed1%.

Bitcoin (BTC-USD) declined 2.8% to $105,191, and the yield for 10-year US Treasuries was rose 8.7 basis points to 4.44%.

In economic news, oil prices jumped after Israel targeted Iran's nuclear facilities in a series of airstrikes, with ING Bank saying that an escalation may drive prices above $80 a barrel.

The University of Michigan's preliminary consumer sentiment index rose to 60.5 in June from 52.2 in May, compared with expectations for a rise to 53.6 in a Bloomberg survey.

In corporate news, shares of Visa (V) and Mastercard (MA) both dropped 5.1% as Walmart (WMT), Amazon (AMZN), Expedia (EXPE), and several major airlines weighed plans to launch their own stablecoins, The Wall Street Journal reported.

Brookfield Infrastructure Partners (BIP/PA) agreed to acquire internet service provider Hotwire Communications from Blackstone (BX) for $7 billion, including debt, The Wall Street Journal reported. Brookfield shares shed 1.3%, and Blackstone dropped 2.3%.

Citizens Financial Group's (CFG) board increased a share repurchase program to $1.5 billion. Citizens shares fell 1.1%.

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