Financial Stocks Plummet Pre-Bell as Major Players See Significant Drops

Financial stocks took a hit premarket on Tuesday, according to data from Bitget. The State Street Financial Select Sector SPDR ETF (XLF) was down by 0.1%, while its counterparts Direxion Daily Financial Bull 3X Shares (FAS) and Direxion Daily Financial Bear 3X Shares (FAZ) saw decreases of 1% and 0.1%, respectively.

Enova International's shares plummeted more than 21% after the company withdrew its applications with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System for the proposed acquisition of Grasshopper Bancorp.

Genworth Financial stock also took a hit, falling over 6% following a UK Court of Appeal ruling that found Santander (SAN) not liable for AXA's losses tied to the historic mis-selling of payment protection insurance policies.