Sector Update: Financial Stocks Lower in Afternoon Trading

01:49 PM EST, 03/02/2026 (MT Newswires) -- Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.1%.

The Philadelphia Housing Index was falling 2.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.1%.

Bitcoin (BTC-USD) was increasing 4.9% to $68,980, and the yield for 10-year US Treasuries rose 9 basis points to 4.05%.

President Donald Trump said Monday at a press conference there will be no set timeline for US military operations in Iran, saying the US will do "whatever it takes."

In corporate news, a consortium led by BlackRock's (BLK) Global Infrastructure Partners and EQT Infrastructure VI fund struck a deal to buy AES (AES) for $15 per share in cash, representing an equity value of $10.7 billion, the firms said Monday. BlackRock (BLK) shares rose 0.8%.

Barclays (BCS) had been blocking some transactions linked to London-based mortgage provider Market Financial Solutions months before the firm collapsed last week amid fraud allegations, the Financial Times reported. Barclays (BCS) shares were down 2.2%.

Ares Management (ARES) shares rose 1.8% after Bloomberg reported the company has emerged as the lead buyer for a private credit portfolio sold by Arcmont Asset Management in the market for secondhand stakes.

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