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Sector Update: Financial Stocks Decline Late Afternoon
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Sector Update: Financial Stocks Decline Late Afternoon
Oct 28, 2025 1:03 PM

03:56 PM EDT, 10/28/2025 (MT Newswires) -- Financial stocks fell in late Tuesday afternoon trading with the NYSE Financial Index dropping 0.4% and the Financial Select Sector SPDR Fund (XLF) shedding 0.7%.

The Philadelphia Housing Index declined 1%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 2.2%.

Bitcoin (BTC-USD) fell 1% to $113,859, and the yield for 10-year US Treasuries was little changed at 3.982%.

In corporate news, Goldman Sachs ( GS ) Chief Executive Officer David Solomon said in an interview on Bloomberg Television that he doesn't see any systemic risk looming in the credit market amid the collapse of US firms First Brands and Tricolor. Goldman shares rose 0.2%.

Western Union ( WU ) shares rose 6.5% after the company announced plans to launch a US dollar-backed stablecoin and a digital asset network to make financial services accessible to more people.

PayPal ( PYPL ) lifted its full-year earnings outlook and announced a partnership with Microsoft-backed (MSFT) OpenAI to integrate its payment system within ChatGPT. PayPal ( PYPL ) shares rose 4.3%.

Citigroup ( C ) continues to expand its employees' use of AI, Bloomberg reported, citing Chief Executive Officer Jane Fraser. Citi shares rose 0.3%.

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