Financial stocks declined premarket Friday as the Financial Select Sector SPDR Fund (XLF) fell by 3.3% recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 9% higher.

Morgan Stanley (MS) aims to raise approximately 100 billion Japanese yen ($688.3 million) for a real estate fund focused on Japan, Reuters reported, citing two people familiar with the matter. Morgan Stanley shares fell past 5% pre-bell.

Blackstone (BX) is evaluating a potential sale of a couple of AirTrunk data centers in Sydney and Melbourne, Australia, Bloomberg News reported, citing people familiar with the matter. Shares of Blackstone declined by over 3% premarket.

MarketAxess Holdings (MKTX) shares rose by nearly 9% after the company reported $15 billion in average daily credit trading volume for Q1, driven by increases in US high-grade credit, emerging markets, and Eurobonds.