Sector Update: Financial Stocks Fall Thursday Afternoon

01:43 PM EST, 11/05/2026 (MT Newswires) -- Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index declining 2.3% and the State Street Financial Select Sector SPDR ETF (XLF) falling 2.6%. The Philadelphia Housing Index was down 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.9%. Bitcoin (BTC-USD) was falling 5.4% to $76,079, and the yield for 10-year US Treasuries was decreasing 6.5 basis points to 4.827%. In economic news, US initial jobless claims declined to a level of 189,000 in the week ended Oct. 31 from an upwardly revised 195,000 level in the previous week, compared with expectations for an increase to 196,000 in survey of analysts compiled by Bloomberg and the lowest level since the week ended July 18. 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 3.7%. Webull's (BULL) Webull Financial subsidiary has been ordered to pay a fine of $4.2 million by the US Financial Industry Regulatory Authority for failing to implement programs for anti-money laundering and identity theft prevention, FINRA said Thursday. Webull shares dropped 11%. Carlyle (CG) shares were falling past 6% even after it reported higher Q3 after-tax distributable earnings and revenue.