Sector Update: Financial Stocks Decline Friday Afternoon

02:04 PM EDT, 03/27/2026 (MT Newswires) -- Financial stocks were lower in Friday afternoon trading, with the NYSE Financial Index falling 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 2%.

The Philadelphia Housing Index was 0.7% lower, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.2%.

Bitcoin (BTC-USD) was falling 4.5% to $65,669, and the yield for 10-year US Treasuries was up 1.2 basis points at 4.428%.

In economic news, the University of Michigan consumer sentiment index was revised down to 53.3 for March from a preliminary estimate of 55.5, compared with expectations for 54.0 in a Bloomberg-compiled survey. The final reading in February was 56.6.

In corporate news, shares of Burford Capital (BUR) , which backed and funded litigation against Argentina over its nationalization of YPF, tumbled 41% after a US appeals court reversed a ruling ordering the country to pay $16.1 billion to former shareholders of the oil firm, according to media reports.

Citigroup (C/PN) (C) executives have had preliminary talks in recent months about trying to acquire a major US regional bank in order to ramp up deposits, which would help fuel its trading and lending operations, Bloomberg reported. Citi shares were falling 4.1%.

International Exchange (ICE) said it has completed a new $600 million direct cash investment in Polymarket, as part of its ongoing investment arrangement with the prediction market platform. International Exchange shares were down 1%.

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