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Sector Update: Financial

BY MT Newswires | TREASURY | 06/25/25 01:18 PM EDT

01:18 PM EDT, 06/25/2025 (MT Newswires) -- Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the Financial Select Sector SPDR Fund (XLF) down 0.4%.

The Philadelphia Housing Index was falling 2%, and the Real Estate Select Sector SPDR Fund (XLRE) was dropping 1.4%.

Bitcoin (BTC-USD) was increasing 1.1% to $107,229, and the yield for 10-year US Treasuries was rising 2 basis points to 4.31%.

In economic news, Federal Reserve Chair Jerome Powell returned to Capitol Hill on Wednesday for his congressional testimony before the Senate Banking, Housing, and Urban Affairs Committee. The possibility that the Trump administration's tariff plans may result in more persistent inflation is a large enough risk for the central bank to be careful in considering interest rate cuts, Powell told the panel.

In corporate news, Nasdaq (NDAQ) and the New York Stock Exchange are in ongoing talks with the US Securities and Exchange Commission to ease regulatory requirements for public companies to attract more high-value startups to go public, Reuters reported. Nasdaq shares were down 0.3% recently.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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