02:04 PM EDT, 10/29/2025 (MT Newswires) -- Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.7% and the Financial Select Sector SPDR Fund (XLF) falling 1.1%.

The Philadelphia Housing Index was up 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) dropped 2%.

Bitcoin (BTC-USD) was declining 1.6% to $111,163, and the yield for 10-year US Treasuries was rising 1.4 basis points to nearly 4%.

In economic news, the US Federal Reserve is widely expected to cut interest rates by 25 basis points, according to the CME FedWatch Tool. Investors will also look out for Fed Chair Jerome Powell's comments on the path ahead for policy in a press briefing following the policy announcement. Currently, the probability of another rate reduction of the same magnitude in December is 85%.

In corporate news, Fiserv ( FI ) shares fell 42% after it reported lower-than-expected Q3 adjusted earnings and revenue. It also cut its 2025 adjusted EPS guidance.

Morgan Stanley ( MS ) shares were flat. The firm said it has agreed to buy EquityZen, a trading platform for shares in private companies.

HSBC ( HSBC ) is expanding its innovation banking business to Singapore, allocating $1.5 billion for startup lending as part of a global push, Reuters reported. HSBC ( HSBC ) shares added 1.5%.