Sector Update: Financial Stocks Fall Monday Afternoon

01:56 PM EST, 02/23/2026 (MT Newswires) -- Financial stocks were decreasing in Monday afternoon trading, with the NYSE Financial Index falling 2.5% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 3%.

The Philadelphia Housing Index was shedding 1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.

Bitcoin (BTC-USD) was falling 4.1% to $64,838, and the yield for 10-year US Treasuries was dropping 5.9 basis points to 4.03%.

In economic news, President Donald Trump said Saturday the US will raise tariffs on countries to 15% from the 10% rate he had set out on Friday. That followed a Supreme Court ruling that invalidated the reciprocal levies invoked under the International Emergency Economic Powers Act. "Any Country that wants to 'play games' with the ridiculous Supreme Court decision, especially those that have "Ripped Off" the U.S.A. for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to," Trump said Monday. "BUYER BEWARE!!!"

In corporate news, Gemini Space Station (GEMI) shares were falling 1.6%. The company has laid off additional US personnel even after letting go of a quarter of its workforce as troubles mount in the cryptocurrency space, Bloomberg reported Sunday.

Veris Residential (VRE) agreed to be acquired and taken private by an Affinius Capital-led consortium in an all-cash deal with an implied enterprise value of $3.4 billion. Veris shares climbed 12%.

PayPal (PYPL) is drawing takeover interest from potential buyers after its stock lost nearly half of its value over the past year, Bloomberg reported. PayPal (PYPL) shares rose 6.5%.

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