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Sector Update: Financial

BY MT Newswires | ECONOMIC | 09/23/25 03:28 PM EDT

03:28 PM EDT, 09/23/2025 (MT Newswires) -- Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund (XLF) shedding 0.7%.

The Philadelphia Housing Index was easing 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 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 0.7% lower at $111,931, and the yield for 10-year US Treasuries fell 2 basis points to 4.12%.

In corporate news, Toronto-Dominion Bank (MLWIQXX) unit TD Securities is being sued by a former executive who alleges the firm is unlawfully trying to enforce an "overbroad" and "non-compete agreement" and breached promises about his role and contributions. Toronto-Dominion Bank (MLWIQXX) shares were down 0.6%.

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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