Sector Update: Financial Stocks Decline Late Afternoon

04:01 PM EDT, 03/27/2026 (MT Newswires) -- Financial stocks were lower in late Friday afternoon trading, with the NYSE Financial Index falling 1.9% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 2.4%.

The Philadelphia Housing Index was shedding 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.7%.

Bitcoin (BTC-USD) was falling 4.3% to $65,832, and the yield for 10-year US Treasuries rose 2.4 basis points at 4.44%.

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 survey. The final reading in February was 56.6.

In corporate news, Blue Owl Capital (OWL) is seeking partnerships with family offices, eyeing opportunities ranging from large scale co-investments to pooled vehicles, as it looks to bring more wealthy clients into private markets, Bloomberg reported. Blue Owl shares were down 1.7%.

Blackstone (BX), as part of a consortium, is in advanced discussions to acquire UK aerospace parts supplier Senior, the Financial Times reported. Blackstone shares fell 1.5%.

Shares of Burford Capital (BUR) , which backed and funded litigation against Argentina over its nationalization of YPF, slumped 45% 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 buy a major US regional bank to ramp up deposits, which would help fuel its trading and lending operations, Bloomberg reported. Citi shares were falling 4.6%.

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