Sector Update: Financial Stocks Fall Premarket Wednesday

Financial stocks were falling premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.4%. The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% higher. Banco Santander (SAN) overhauled its Asia-Pacific corporate and investment banking business, removing its top banker in Beijing, tightening employee oversight and cutting staff perks as part of a cost-cutting drive, the Financial Times reported. Banco Santander stock was down more than 3% pre-bell. Carlyle (CG) and Oak Hill Capital Management received approval from the European Commission for their joint acquisition of Wyyerd under the EU Merger Regulation. Carlyle shares were down more than 1% premarket. Klarna (KLAR) will be available for use on Flix transportation in 21 markets, adding the UK, Germany, Italy, France, Poland, Switzerland, Austria, Spain and others to its existing presence in the US and Sweden, the companies said. Klarna stock was down more than 1% premarket.