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Sector Update: Financial Stocks Decline in Afternoon Trading

BY MT Newswires | TREASURY | 10/15/25 01:52 PM EDT

01:52 PM EDT, 10/15/2025 (MT Newswires) -- Financial stocks were softer Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each down 0.2%.

The Philadelphia Housing Index was easing 0.1%, while the Real Estate Select Sector SPDR Fund (XLRE) climbed 1.3%.

Bitcoin (BTC-USD) was falling 2.1% to $110,727, and the yield for 10-year US Treasuries rose 2 basis points to 4.04%.

In economic news, mortgage applications in the US dropped for a third straight week amid decreases in conventional and Veterans Affairs applications, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, fell 1.8% on seasonally adjusted basis for the week ended Friday, following drops of 4.7% and 13% in the previous two weeks.

In corporate news, Progressive's (PGR) Q3 profit rose less than Wall Street's expectations, while the insurance company's combined ratio deteriorated. Its shares fell 7.2%.

UBS (UBS) has lost a $440 million claim against Japan's SoftBank related to the collapse of Greensill Capital in 2021, the Financial Times reported. UBS shares were down 2%.

Morgan Stanley (MS) shares jumped 5.9% after it reported Q3 earnings and revenue above market expectations.

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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