Sector Update: Financial Stocks Decline Monday Afternoon

02:06 PM EST, 11/03/2025 (MT Newswires) -- Financial stocks fell in Monday afternoon trading, with the NYSE Financial Index dropping 0.2% and the Financial Select Sector SPDR Fund (XLF) losing 0.4%.

The Philadelphia Housing Index declined 1.7%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.6%.

Bitcoin (BTC-USD) fell 2.9% to $107,366, and the yield for 10-year US Treasuries rose 1.1 basis points to 4.11%.

In economic news, the Institute for Supply Management's US manufacturing index slid to 48.7 in October from 49.1 in September, compared with expectations for an increase to 49.5 in a survey compiled by Bloomberg.

The S&P Global US manufacturing index for October was revised upward to 52.5 from a flash reading of 52.2, compared with forecasts for no revision in a Bloomberg poll.

In corporate news, Marsh McLennan (MMC) faces slowing organic growth and a lack of near-term catalysts amid softening insurance rates and broader economic uncertainty, BofA Securities said, downgrading the stock to underperform from neutral and slashing its price target to $181 from $243. Marsh shares fell 0.3%.

Ares Management (ARES) shares jumped 4.2% after the company reported Q3 results that topped Wall Street estimates.

Berkshire Hathaway (BRK/A) shares eased 0.2% after the company posted higher Q3 earnings and revenue over the weekend.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.