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Sector Update: Financial Stocks Decline Late Afternoon

BY MT Newswires | TREASURY | 10/28/25 03:56 PM EDT

03:56 PM EDT, 10/28/2025 (MT Newswires) -- Financial stocks fell in late Tuesday afternoon trading with the NYSE Financial Index dropping 0.4% and the Financial Select Sector SPDR Fund (XLF) shedding 0.7%.

The Philadelphia Housing Index declined 1%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 2.2%.

Bitcoin (BTC-USD) fell 1% to $113,859, and the yield for 10-year US Treasuries was little changed at 3.982%.

In corporate news, Goldman Sachs (GS) Chief Executive Officer David Solomon said in an interview on Bloomberg Television that he doesn't see any systemic risk looming in the credit market amid the collapse of US firms First Brands and Tricolor. Goldman shares rose 0.2%.

Western Union (WU) shares rose 6.5% after the company announced plans to launch a US dollar-backed stablecoin and a digital asset network to make financial services accessible to more people.

PayPal (PYPL) lifted its full-year earnings outlook and announced a partnership with Microsoft-backed (MSFT) OpenAI to integrate its payment system within ChatGPT. PayPal (PYPL) shares rose 4.3%.

Citigroup (C) continues to expand its employees' use of AI, Bloomberg reported, citing Chief Executive Officer Jane Fraser. Citi shares rose 0.3%.

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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