Sector Update: Financial Stocks Decline Thursday Afternoon

02:09 PM EST, 02/05/2026 (MT Newswires) -- Financial stocks were decreasing in Thursday afternoon trading, with the NYSE Financial Index falling 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 1.3%.

The Philadelphia Housing Index was shedding 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.2%.

Bitcoin (BTC-USD) was falling past 10% to $65,605 and the yield for 10-year US Treasuries was dropping 6.5 basis points to 4.21%.

In economic news, January's job cut announcements in the US soared to the highest since October, driven by layoffs at United Parcel Service (UPS) and Amazon.com (AMZN), Challenger Gray & Christmas said Thursday. A total of 108,435 layoff plans were disclosed, more than triple the tally in December and up 118% year over year.

Meanwhile, job openings fell to 6.542 million in December, according to the Bureau of Labor Statistics, below the 7.25 million expected in a Bloomberg survey and down from 6.928 million reported in November.

In corporate news, Goldman Sachs (GS) is preparing a $3.75 billion debt financing to back Arclin's acquisition of DuPont de Nemours' (DD) Aramids business, Bloomberg reported. Goldman shares were down 2.1%.

KKR (KKR) shares fell 5.5% after the company posted a decline in Q4 adjusted earnings.

Ares Management (ARES) shares dropped 10% after it reported Q4 adjusted EPS that missed analysts' expectations.

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