Sector Update: Financial Stocks Decline Premarket Wednesday

Financial stocks were declining premarket Wednesday with the Select Financial Sector SPDR XLF recently slipping by 0.85%. The Direxion Daily Financial Bull 3X shares FAS were more than 2% lower and bearish counterpart Direxion Daily Financial Bear 3X shares FAZ was up over 2%.

SiriusPoint SPNT said Siddhartha Sankaran stepped down as chairman and chief executive officer to "pursue other opportunities." SiriusPoint was up more than 8% recently.

KKR KKR made a significant majority investment in Alchemer to support its growth through marketing, product innovation, industry partnerships, and strategic mergers and acquisitions. Financial terms were not disclosed. KKR was recently down more than 3%.

Huntington Bancshares HBAN issued and sold $400 million of 5.023% fixed-to-floating rate senior notes due May 17, 2033. Huntington Bancshares was marginally higher recently.