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Sector Update: Financial

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Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1%.

The Philadelphia Housing Index was down 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.6%.

Bitcoin (BTC-USD) was falling 1.2% to $65,838, and the yield for 10-year US Treasuries was rising 4 basis points to 4.495%.

In corporate news, Amazon-backed (AMZN) Anthropic has chosen Goldman Sachs (GS) and Morgan Stanley (MS) to lead its initial public offering, Bloomberg reported. JPMorgan Chase (JPM) is also working on the deal, the report said. Goldman shares were down 1.8%, Morgan Stanley shed 2%, and JPMorgan decreased 0.3%.

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