🏦 Visa Hits 4-Week Low, Mastercard 5-Week Low Amid Stablecoin Threat from Retail Giants | Financials Sector Insight
The top contributors to the ETF's performance include Visa, Mastercard, JPMorgan Chase, Wells Fargo, and Bank of America, all of which have posted notable declines.
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Below are AI-generated insights on moves in the financials sector, powered by MarketReader technology.
Friday, June 13
XLF [-1.8%]
Financial Select Sector SPDR Fund
The Financial Select Sector SPDR Fund (XLF) has experienced a decline of 1.8% today, coinciding with heightened geopolitical tensions stemming from the military escalation between Israel and Iran. This conflict has led to a significant rise in oil prices, raising concerns over potential supply disruptions. The top contributors to the ETF's performance include Visa, Mastercard, JPMorgan Chase, Wells Fargo, and Bank of America, all of which have posted notable declines. Mastercard has reached a five-week low, despite a substantial increase over the past year. Additionally, Bank of America announced preferred stock dividends for various series due in mid-2025. The broader market sentiment is reflected in the Dow Jones Index, which has also declined, suggesting a correlation with XLF's current performance.