Financial Sector Update for 09/05/2023: DWAC
Financial stocks fell Tuesday afternoon, with the NYSE Financial Index dropping 0.9% and the Financial Select Sector SPDR Fund (XLF) down 1%.
The Philadelphia Housing Index tumbled 4.1%, and the Real Estate Select Sector SPDR Fund (XLRE) was down about 1%.
Bitcoin (BTC-USD) was declining 0.5% to $25,735, and the yield for 10-year US Treasuries was rising 8 basis points to 4.25%.
In economic news, new orders for US factory goods fell 2.1% in July, versus expectations for a 2.5% decrease in a survey compiled by Bloomberg as of 7:30 am ET and following a 2.3% increase in June.