Sector Update: Financial Stocks Decline Late Afternoon

04:05 PM EDT, 03/09/2026 (MT Newswires) -- Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index falling 1.5% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.6%.

The Philadelphia Housing Index eased 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.2%.

Bitcoin (BTC-USD) was increasing 2.5% to $69,026, and the yield for 10-year US Treasuries was three basis points lower at 4.10%.

In corporate news, KKR (KKR) shares were down 0.6%. The company is working with advisers on a potential sale of CoolIT Systems, aiming to fetch more than $3 billion for the provider of cooling equipment for data centers, the Financial Times reported.

Bank of America (BAC) , along with other banks, has launched a $2.75 billion leveraged loan to assist Nexstar Media (NXST) in financing its pending Tegna (TGNA) acquisition, Bloomberg reported. Bank of America (BAC) shares shed 1.6%.

Jefferies Financial (JEF) is facing "elevated" uncertainty over credit and legal risks, Morgan Stanley said in a note. The risks include $134 million of reported exposure to failed UK lender MFS and a separate lawsuit by Western Alliance (WAL) alleging missed payments of $126.4 million, the note said. Jefferies shares were down 0.5%.

Assured Guaranty (AGO) has declined to insure bonds issued by UK water utilities in the past 18 months, following default by Thames Water's parent firm, the Financial Times reported. The company has over $15 billion of exposure across some of the UK's most leveraged water utilities, the report said. Assured Guaranty (AGO) shares were up 0.4%.

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