03:45 PM EDT, 10/08/2025 (MT Newswires) -- Financial stocks declined in late Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each decreasing 0.2%.

The Philadelphia Housing Index was fractionally higher, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.6%.

Bitcoin (BTC-USD) was increasing 1.5% to $123,195, and the yield for 10-year US Treasuries was slightly higher at nearly 4.13%.

Mortgage applications in the US fell for a second consecutive week as refinancing activity declined, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, dipped 4.7% on a seasonally adjusted basis for the week through Friday, and fell 5% without adjustments.

In corporate news, Western Alliance Bancorp ( WAL ) shares fell 4.7% after Bloomberg reported that the bank is potentially exposed to losses tied to the failure of car parts supplier First Brands via a leveraged financing deal with a fund connected to Jefferies Financial ( JEF ) . Jefferies said Wednesday First Brands filed for bankruptcy on Sept. 29, detailing its exposure to the bankrupt company via Point Bonita Capital and Apex Credit Partners. Jefferies shares dropped 7%.

Marex ( MRX ) shares jumped past 12% after the company said it expects Q3 adjusted earnings in a range of $0.92 to $0.97 per diluted share.

Apollo Global Management ( APO ) is eyeing potential investment opportunities in Spain related to energy transition, data centers and infrastructure, Bloomberg reported, citing the company's senior adviser for Iberia, Konstantin Sajonia-Coburgo. Apollo shares were shedding 0.8%.

Goldman Sachs ( GS ) is marketing a significant risk transfer deal tied to about $5 billion of corporate loans, Bloomberg reported. Goldman shares retreated 1.8%.