Sector Update: Financial Stocks Decline Late Afternoon

03:58 PM EDT, 09/28/2026 (MT Newswires) -- Financial stocks declined in late Monday afternoon trading, with the NYSE Financial Index shedding 1% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.2%. The Philadelphia Housing Index fell 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) lost 0.5%. Bitcoin (BTC-USD) declined 1% to $83,594, and the yield for 10-year US Treasuries rose 6 basis points to 5.24%. In economic news, the Dallas Fed's monthly manufacturing index fell to 9.8 in September from 11.6 in the month prior, against expectations for a larger decrease to 7.8 in a Bloomberg survey. In corporate news, Brixmor Property (BRX) and Everview Partners agreed to acquire Slate Grocery REIT in a transaction valued at $2.34 billion. Brixmor shares were down 0.2%. Valley National Bancorp (VLY) has agreed to buy digital banking platform Bluevine for about $340 million, the companies said Monday. Valley shares were falling 2%. Burford Capital (BUR) shares jumped past 8% after the company said a jury awarded $5.7 billion in damages to the plaintiff in a patent case involving Apple (AAPL), giving Burford Capital a potential entitlement of about $1.4 billion. Citigroup (C) is targeting a $3 billion initial public offering for Mexico's Grupo Financiero Banamex, Bloomberg reported. Citi shares fell 2.1%.