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Sector Update: Financial Stocks Mixed Friday
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Sector Update: Financial Stocks Mixed Friday
Mar 20, 2026 1:24 PM

04:03 PM EDT, 03/20/2026 (MT Newswires) -- Financial stocks were mixed Friday with the NYSE Financial Index declining 1.2% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 0.2%.

The Philadelphia Housing Index fell 2.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) slumped 3.1%.

Bitcoin (BTC-USD) eased 0.1% to $69,852, and the yield for 10-year US Treasuries jumped 11 basis points to 4.39%.

In economic news, the Federal Reserve Bank of St. Louis now forecast Q1 US GDP growth of 1.69%, down from an earlier estimate for a 2.05% gain.

In corporate news, Janus Henderson's ( JHG ) investment teams, overseeing a vast majority of the company's assets, have expressed concerns to the company about being acquired by Victory Capital, Bloomberg reported. Janus shares fell 1.8%.

Chubb ( CB ) said the maritime insurance facility created in partnership with the US government through the International Development Finance Corporation will be available to ships transiting the Strait of Hormuz "only under certain conditions." Chubb ( CB ) shares eased 0.3%.

UBS (UBS) lost $14.1 billion in assets and 196 financial advisers in Q4, posing a challenge to efforts to revamp its US wealth management business, Reuters reported, citing analysts and industry sources. UBS shares declined 1.7%.

Lincoln National ( LNC ) is discussing a potential reinsurance deal with peers that may move $5 billion of life insurance reserves off its balance sheet, Bloomberg reported. Lincoln shares rose 0.7%.

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