🏦 Visa, Mastercard, JPMorgan Slide on AI Disruption Fears | Financials Sector Insight
Financial stocks tumble after President Trump announced an increase in global tariffs to 15%, raising concerns. XLF dropped more than 3%, with JPMorgan, Mastercard, and Visa leading losses, as weak factory orders and a broader Dow decline amplified risk-off sentiment.
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Below are AI-generated insights on moves in the financials sector, powered by MarketReader technology.
Monday, February 23
XLF [-3.2%]
Financial Select Sector SPDR Fund
The Financial Select Sector SPDR Fund (XLF) is currently experiencing a significant decline, down approximately 3.2% today. This downturn follows President Trump's announcement to increase global tariffs from 10% to 15%, raising concerns about potential impacts on various industries and economic growth. The broader Financials sector, which includes XLF, is down around 2.64%, underperforming compared to other sectors like Utilities and Health Care. Major holdings within the fund are also facing sharp declines, with notable contributors such as JPMorgan Chase, Mastercard, and Visa each dropping significantly. Additionally, recent macroeconomic data revealed a 0.7% decline in U.S. factory orders, further heightening market volatility. The Dow Jones Index has declined by 1.62%, reflecting overall market sentiment that may be influencing the financial sector's performance. Notably, XLF is trading with unusually high market volume today.