Among the financial stocks that posted the biggest slumps this week include two insures, two regional lender and one financial services firm. On the other hand, three insurers, one cryptocurrency exchange and one Latin American bank scored the biggest gains.
Overall, financial stocks (with market cap $2B) closed out the week ended Nov. 10, 2023, slightly in the green, with the Financial Select Sector SPDR Fund ETF (NYSEARCA:XLF) edging up 0.4%, trailing the S&P 500’s 1.3% ascent.
SoFi Technologies, (NASDAQ:SOFI), known for refinancing student debt, led the decliners with a 13.4% drop;
Nevada-based regional lender Axos Financial (NYSE:AX) slid 11%;
ServisFirst Bancshares (NYSE:SFBS) rounded out the five biggest losers with a 10% decline.
Coinbase Global (NASDAQ:COIN), the largest crypto exchange in the U.S., accelerated 8.3% during the week that bitcoin (BTC-USD) surged as optimism around an approval for a U.S. spot bitcoin ETF continued to build;
Banco Santander (Brasil) S.A. (NYSE:BSBR) drove up 7.3%; and
Reinsurance Group of America (NYSE:RGA) gained 6.7%.