09:03 AM EDT, 05/22/2024 (MT Newswires) -- Financial stocks were declining premarket Wednesday, with the Financial Select Sector SPDR Fund (XLF) recently down 0.1%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 1.1% lower, and bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.6%.

Citigroup ( C ) Global Markets has been fined 27.8 million British pounds ($35.3 million) for failures in its trading systems and controls, the UK Financial Conduct Authority said. Citigroup ( C ) was 0.3% lower pre-bell.