PrintSector Update: Financial Stocks Fall Late Afternoon
BY MT Newswires | TREASURY | 01/12/26 03:58 PM EST03:58 PM EST, 01/12/2026 (MT Newswires) -- Financial stocks were lower in late Monday trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.9%.
The Philadelphia Housing Index was adding 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.
Bitcoin (BTC-USD) was increasing 0.9% to $91,650, and the yield for 10-year US Treasuries rose 2 basis points to nearly 4.19%.
In economic news, US Federal Reserve Chair Jerome Powell said President Donald Trump's displeasure with the Federal Open Market Committee's policy decisions is driving a Department of Justice probe into the central bank. Powell said late Sunday the department subpoenaed Fed records regarding a $2.5 billion upgrade of the bank's headquarters and his related testimony before Congress. The Fed chief described the Trump Administration's actions as a "pretext" to influence the central bank's policies.
In corporate news, shares of major banks and credit card companies fell on Monday after President Trump said on Truth Social late Friday he is calling for a one-year cap on credit card interest rates of 10%, effective Jan. 20. Capital One Financial
Blackstone (BX) has appointed advisers to explore the sale of its UK rental housing business Leaf Living, Bloomberg reported. The business is expected to fetch more than 1 billion British pounds ($1.3 billion), the report said. Blackstone was down 0.6%.
HSBC
BBVA (BBVA) is trying to sell 380 million euros ($443.9 million) worth of mortgages as part of an effort to clear its balance sheet, Bloomberg reported. BBVA shares added 1.9%.
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