SPY414.92-5.67 -1.35%
DIA332.96-5.20 -1.54%
IXIC14,030.38-130.97 -0.92%

Sector Update: Financial

05/11/2021 11:37

03:35 PM EDT, 05/11/2021 (MT Newswires) -- Financial stocks were ending lower in late-afternoon trading, with the NYSE Financial Index dropping 1.3% while the SPDR Financial Select Sector ETF was off 1.7%. The Philadelphia Housing Index also was falling 3.1% and the SPDR Real Estate Select Sector ETF was down 1.7%. In company news, Alset Ehome (AEI) plunged Tuesday, at one point sinking 60.5% to a record low of $3.95 a share, after the real estate developer priced a $32 million public offering of 4.7 million common shares at $5.07 apiece, or 20% below Monday's closing price. Investors also received warrants to buy up to 4.7 million additional shares.