Sector Update: Financial Stocks Edge Lower Tuesday Afternoon

02:02 PM EDT, 09/23/2025 (MT Newswires) -- Financial stocks were moving lower in Tuesday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) down 0.4%.

The Philadelphia Housing Index was shedding 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) was increasing 0.5%.

In economic news, the US Q2 current account deficit narrowed to $251.31 billion from $439.82 billion in the prior quarter, compared with expectations for a $256.6 billion deficit from a survey compiled by Bloomberg.

The September flash reading of manufacturing conditions from S&P Global dropped to a two-month low reading of 52.0 from 53.0 in August, compared with an expected reading of 52.2 in a Bloomberg survey.

Bitcoin (BTC-USD) was 0.4% lower at $111,990, and the yield for 10-year US Treasuries was two basis points lower at 4.13%.

In corporate news, Morgan Stanley (MS) is launching a collaboration with cryptocurrency infrastructure company Zerohash to allow clients of the bank's E*Trade unit to trade crypto coins starting in H1 2026, Bloomberg reported. Morgan Stanley (MS) shares were down 0.4%.

KKR (KKR) is holding its first board meeting in Asia this week in Tokyo, Reuters reported, citing a company spokesperson. The two-day meeting, which began Monday, includes top leadership such as co-founders George Roberts and Henry Kravis, and co-CEOs Joe Bae and Scott Nuttall, the spokesperson told Reuters. KKR shares added 0.7%.

UBS (UBS) said Tuesday it has agreed to pay 835 million euros ($985.8 million) to resolve the legacy tax matter related to its cross-border business activities in France between 2004 and 2012. UBS shares were shedding 0.8%.

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