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Sector Update: Financial Stocks Decline Late Afternoon

BY MT Newswires | TREASURY | 11/20/25 03:55 PM EST

03:55 PM EST, 11/20/2025 (MT Newswires) -- Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index shedding 0.2% and the Financial Select Sector SPDR Fund (XLF) decreasing 0.4%.

The Philadelphia Housing Index rose 0.4%, and the Real Estate Select Sector SPDR Fund (XLRE) increased 0.2%.

Bitcoin (BTC-USD) fell 2.8% to $86,723, and the yield for 10-year US Treasuries dropped 2.9 basis points to 4.10%.

In economic news, September nonfarm payrolls rose by 119,000, above the 51,000 increase in jobs expected in a survey compiled by Bloomberg, while August payrolls had a downward revision to a 4,000 decrease, and July payrolls were revised down to a 72,000 increase, for a net downward revision of 33,000 jobs, according to the Bureau of Labor Statistics.

The unemployment rate rose to 4.4% in September from 4.3% in August, versus a forecast of 4.3%.

Existing home sales in the US rose more than expected last month amid lower mortgage rates, data from the National Association of Realtors showed. Sales grew 1.2% sequentially to a seasonally adjusted annual rate of 4.1 million units in October. The consensus was for a 0.5% gain in a survey compiled by Bloomberg.

In corporate news, Morgan Stanley (MS) and a group of banks postponed a deadline for investors to evaluate $589 million of ServerFarm data center bonds amid concerns about links to Alibaba (BABA), Bloomberg reported. Morgan Stanley (MS) shares fell 2.2%.

Robinhood (HOOD) stock dropped 11%. Director Baiju Bhatt sold 418,338 shares for $48.8 million on Monday.

HSBC (HSBC) is revamping its trading division in an effort to be a leader in debt financing, Bloomberg reported. HSBC (HSBC) shares fell 2%.

MarketAxess (MKTX) , which operates an electronic trading platform for corporate bonds and other fixed-income securities, is facing a potentially benign credit outlook that may weigh on secondary volumes into 2026, Morgan Stanley (MS) said, downgrading the stock to equal weight from overweight and lowering its price target to $209 from $247. MarketAxess (MKTX) shares fell 3.1%.

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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