The S&P 500’s financial sector has posted losses so far this year
Exchange-traded funds that buy stocks in the financial sector were struggling Wednesday, with Morgan Stanley’s steep drop landing it among the S&P 500’s worst performers.
Financial stocks were lagging the broader S&P 500 index on Wednesday, as other Wall Street banks such as Goldman Sachs Group Inc. GS, -1.75% and Citigroup Inc. C, -1.60% also saw sharp declines. The S&P 500 was trading 0.7% lower on Wednesday afternoon, according to FactSet data, at last check. The SPDR S&P Regional Banking ETF KRE has plummeted more than 29% this year, including a sharp 1.9% decline on Wednesday afternoon, FactSet data show, at last check. The Invesco KBW Bank ETF KBWB, which tracks the broad banking industry, was down 2.1% in one of its worst trading sessions so far this month, bringing the fund’s plunge this year to almost 24%.
Meanwhile, the S&P 500’s financial sector XX:SP500.40 is down almost 3% this year based on Wednesday afternoon trading.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Stock Market Today: Morgan Stanley, P&G Earnings in SpotlightOil prices rally; Treasury yields hold above 4.8%
Baca lebih lajut »
Stock Market News Today: Dow Opens Lower; Morgan Stanley, P&G Earnings in Spotlight -- Live UpdatesLive coverage of stocks and financial news, including the S&P 500, Dow and Nasdaq Composite.
Baca lebih lajut »
Morgan Stanley says this China stock is a global video game 'powerhouse' with 40% upsideAnalyst Alex Poon maintained his overweight rating on the China-based technology company and raised his price target by $135 to $150.
Baca lebih lajut »
United, Morgan Stanley, Spirit Aero, Nasdaq, Nvidia, Albemarle, and More MoversUnited Airlines says the Israel-Hamas war will hit fourth-quarter results, weakness in investment banking at Morgan Stanley sends the stock lower, and Nasdaq...
Baca lebih lajut »
Morgan Stanley profit shrinks as deal slump lingersProfit for the three months ended Sept. 30 was $2.4 billion, the bank reported on Wednesday. That compares with the $2.6 billion recorded a year earlier.
Baca lebih lajut »
Why the post-earnings Morgan Stanley sell-off is an overreactionThe Investing Club holds its Morning Meeting every weekday at 10:20 a.m. ET.
Baca lebih lajut »