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Sector Update: Financial

BY MT Newswires | TREASURY | 09/03/25 03:39 PM EDT

03:39 PM EDT, 09/03/2025 (MT Newswires) -- Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each shedding 0.5%.

The Philadelphia Housing Index rose 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) declined 0.3%.

Bitcoin (BTC-USD) gained 0.7% to $111,955, and the yield on 10-year US Treasuries dropped 3.9 basis points to 4.224%.

In corporate news, Goldman Sachs' (GS) asset management arm, KKR (KKR), PSP Investments and Arcmont Asset Management are part of a lending group providing 1.4 billion euros ($1.6 billion) in payment-in-kind debt to finance CapVest Partners' acquisition of German pharmaceutical company Stada, Bloomberg reported. Goldman shares fell 0.5% and KKR dropped 3.4%.

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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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