08:56 AM EDT, 04/10/2024 (MT Newswires) -- Financial stocks were leaning lower pre-bell Wednesday as the Financial Select Sector SPDR Fund (XLF) was declining by more than 1% recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 3.3% lower.

UBS (UBS) is facing much higher regulatory capital requirements under reforms recommended by the Swiss government in the wake of the collapse of Credit Suisse, Bloomberg reported. UBS was declining by nearly 4% in recent premarket activity.