Sector Update: Financial Stocks Fall Wednesday Afternoon

01:57 PM EDT, 03/11/2026 (MT Newswires) -- Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index falling 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) retreating 1.2%.

The Philadelphia Housing Index was dropping 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 1.1%.

Bitcoin (BTC-USD) was up 1.4% at $70,958, and the yield for 10-year US Treasuries was rising 7.4 basis points to 4.21%.

In economic news, the US seasonally adjusted consumer price index rose 0.3% in February, as expected in a Bloomberg-compiled survey and following a 0.2% increase in January, according to data released Wednesday by the Bureau of Labor Statistics.

In corporate news, Chubb (CB) was named the lead insurer for the US International Development Finance Corp.'s $20 billion reinsurance plan aimed at resuming commercial shipping in the Persian Gulf, the agency said Wednesday. Chubb (CB) shares were down 0.2%.

Citigroup (C/PN) (C) has told staff to evacuate its offices in the Dubai International Financial Centre and the Oud Metha area and work from home until further notice, Reuters reported Wednesday, citing a staff memo. Standard Chartered has also asked employees in Dubai to work remotely, the report added. HSBC (HSBC) has temporarily closed all branches in Qatar to protect staff and customers, the report said, citing a customer notice. Citi shares were down 0.8%, and HSBC (HSBC) decreased 0.2%.

Janus Henderson (JHG) shares were down 0.7% after the company said Wednesday its board has unanimously rejected the unsolicited proposal of Victory Capital (VCTR) to buy it for $30 per share in cash and Victory stock representing projected ownership of 38% of the combined company. Victory shares rose 1.4%.

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