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Sector Update: Financial Stocks Fall Pre-Bell Wednesday

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Financial stocks were falling pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.6%.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.9% higher.

Blackstone (BX) is mulling the sale of payments services provider SP.LINKS, looking to fetch about 100 billion Japanese yen ($626 million) from the transaction, Bloomberg reported, citing sources familiar with the matter. Blackstone shares were down more than 4% premarket.

Apollo Global Management (APO) said its managed funds completed the sale of their stake in aluminum packaging firm Altemira Holdings to investment funds run by MBK Partners. Apollo Global Management stock was down more than 4% pre-bell.

Goldman Sachs (GS) CEO David Solomon said investors are showing "more greed than there is fear" as stock markets continue to climb despite concerns over elevated valuations, rising inflation and higher oil prices. Shares of Goldman Sachs Group were down more than 1% premarket.

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