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Sector Update: Financial

BY MT Newswires | TREASURY | 10/29/25 03:47 PM EDT

03:47 PM EDT, 10/29/2025 (MT Newswires) -- Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index down 1.4% and the Financial Select Sector SPDR Fund (XLF) falling 2%.

The Philadelphia Housing Index dropped 2.6%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 2.8%.

Bitcoin (BTC-USD) was declining 3.3% to $110,280, and the yield for 10-year US Treasuries rose 8.9 basis points to 4.07%.

In economic news, the Federal Reserve lowered its benchmark lending rate by 25 basis points Wednesday and reiterated concerns regarding the labor market. The central bank's Federal Open Market Committee lowered interest rates to a range of 3.75% to 4%. After rate reductions at the last two Federal Open Market Committee meetings, a further reduction at the next meeting in December is not guaranteed due to double-sided risks and divergent opinions on the path of monetary policy, Federal Reserve Chairman Jerome Powell said Wednesday in a press conference after the FOMC meeting.

In corporate news, Burford Capital (BUR) shares fell 9% after US appellate judges reportedly questioned whether a $16.1 billion case against Argentina over its 2012 seizure of YPF belongs in US courts. Burford funded much of the litigation and stands to gain billions if the award is upheld, according to the report.

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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