09:20 AM EDT, 03/24/2026 (MT Newswires) -- Financial stocks were declining premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.7%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 2.2% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 2%.

Apollo Global Management ( APO ) capped redemptions from one of its flagship private credit vehicles after investors tried to withdraw assets above the allowed threshold, the Financial Times reported, citing a letter the fund sent to investors. Shares of Apollo Global Management ( APO ) were down more than 4% premarket.

KKR (KKR) and Future Standard-run FS KKR Capital credit fund had its long-term issuer and senior unsecured ratings downgraded to 'Ba1' from 'Baa3' by Moody's Ratings, with the outlook revised to stable from negative. KKR stock was down more than 4% pre-bell.

Sumitomo Mitsui Financial Group ( SMFG ) has no immediate plans to acquire Jefferies (JEF), Bloomberg reported, citing people familiar with the matter. Jefferies stock was up more than 7% premarket.