Sector Update: Financial Stocks Decline Late Afternoon

03:50 PM EST, 02/03/2026 (MT Newswires) -- Financial stocks were decreasing in late Tuesday afternoon trading, with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) down 1%.

The Philadelphia Housing Index was climbing 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.4%.

Bitcoin (BTC-USD) was dropping 4.6% to $75,068, and the yield for 10-year US Treasuries was slightly lower at 4.27%.

In economic news, consumer confidence for February rose from January, with the RealClearMarkets' monthly index climbing to 48.8 from 47.2 amid improvements in all components.

In corporate news, Banco Santander (SAN) agreed to acquire Webster Financial (WBS) in a cash-and-stock deal valued at roughly $12.3 billion, Webster said Tuesday. Santander shares fell 7.4%, and Webster jumped 8.7%.

PayPal (PYPL) shares sank past 19% after it reported Q4 non-GAAP earnings and net revenue below market consensus.

Bank of America (BAC) entered the investment-grade bond market with a multi-tranche dollar offering, joining other Wall Street banks, Bloomberg reported. Its shares were up 0.6%.

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