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Sector Update: Financial Stocks Fall Late Afternoon

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Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding about 0.6%.

The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.6%.

Bitcoin (BTC-USD) was increasing 1.8% to $79,059, and the yield for 10-year US Treasuries rose 3.8 basis points to 4.758%.

In corporate news, Aon (AON) has agreed to buy insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion. Aon shares fell past 9%, and KKR rose 1.5%.

Apollo Global Management-managed (APO) funds have agreed to sell cooling systems company Kelvion to SLB (SLB) for $3.4 billion in cash, with SLB assuming about $700 million of debt as well, the companies said Monday. Apollo shares added 1.4%.

BlackRock (BLK) and Mitsubishi UFJ Financial Group (MUFG) are teaming up to develop a framework to finance deals in Japan with private credit, Bloomberg reported. BlackRock shares were down 1%, and Mitsubishi UFJ was shedding 0.6%.

UBS (UBS) can meet 50% of its new capital requirements with debt, Bloomberg reported Monday, citing a recommendation from the upper house of the Swiss parliament's Economic Affairs and Taxation Committee. Shares were up 1.5%.

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Sector Update: Financial Stocks Advance Friday

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Sectors

Sector Update: Healthcare Stocks Decline Late Afternoon

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Sector Update: Energy Stocks Mixed Late Afternoon

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