Sector Update: Financial

01:16 PM EST, 11/05/2026 (MT Newswires) -- Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index declining 2.2% and the State Street Financial Select Sector SPDR ETF (XLF) falling 2.4%. The Philadelphia Housing Index was down 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.8%. Bitcoin (BTC-USD) was falling 5.5% to $76,024, and the yield for 10-year US Treasuries was decreasing 6.1 basis points to 4.831%. In corporate news, Block (XYZ) is eliminating additional jobs across its Cash App and Square businesses in its second round of workforce reductions this year, Business Insider reported. Block shares were down 3.8%.