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Sector Update: Financial

BY MT Newswires | TREASURY | 10/16/25 03:12 PM EDT

03:12 PM EDT, 10/16/2025 (MT Newswires) -- Financial stocks declined in late Thursday afternoon trading with the NYSE Financial Index falling 1.8% and the Financial Select Sector SPDR Fund (XLF) dropping 2.7%.

The Philadelphia Housing Index lost 1%, while the Real Estate Select Sector SPDR Fund (XLRE) eased 0.1%.

Bitcoin (BTC-USD) declined 2% to $108,532, and the yield for 10-year US Treasuries dropped 7 basis points to 3.98%.

In corporate news, Zions Bancorporation (ZION) shares fell past 12% after the bank disclosed a $50 million charge-off, which will be reflected in Q3 earnings. The charge stems from an internal review of two borrowers and their obligators, which uncovered "apparent misrepresentations and contractual defaults," along with other irregularities involving the loan and its collateral, the bank said Thursday in a regulatory filing.

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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