Sector Update: Financial Stocks Decline Late Afternoon

03:54 PM EST, 03/06/2026 (MT Newswires) -- Financial stocks were lower in late Friday trading, with the NYSE Financial Index dropping 1.5% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.4%.

The Philadelphia Housing Index was down 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 1%.

Bitcoin (BTC-USD) was falling 4.2% to $67,932, and the yield for 10-year US Treasuries decreased 1.3 basis points to 4.13%.

In economic news, nonfarm payrolls in February fell by 92,000 jobs, compared with a gain of 126,000 in January and well below the 55,000 jobs forecast by analysts surveyed by Bloomberg.

In corporate news, BlackRock (BLK) has limited withdrawals from its $26 billion HPS Corporate Lending Fund after a surge in redemption requests, Reuters reported. BlackRock (BLK) fell past 7%.

Western Alliance Bancorporation (WAL) said its Western Alliance Bank unit and collateral agent filed a lawsuit alleging breach of contract and fraud against Jefferies Financial (JEF) and Leucadia Asset Management over an unpaid commercial loan. Western Alliance shares fell 9%, and Jefferies dropped more than 12%.

Blue Owl Capital (OWL) has a 36 million British pound ($48 million) exposure to Century Capital Partners, a London-based property lender that filed for administration last month, Bloomberg reported. Blue Owl Capital shares fell 4.8%.

Whitestone REIT (WSR) is seeing buyout interest from private equity firms including Blackstone (BX) and TPG (TPG), Reuters reported. Whitestone shares rose 5.9%.

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