Sector Update: Financial Stocks Lower in Afternoon Trading

01:59 PM EDT, 09/18/2026 (MT Newswires) -- Financial stocks fell in Friday afternoon trading with the NYSE Financial Index declining 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.2%. The Philadelphia Housing Index dropped 1.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.6%. Bitcoin (BTC-USD) rose 5.6% to $80,876, and the yield on 10-year US Treasuries gained 4.9 basis points to 4.996%. In economic news, US industrial production last month unexpectedly held steady as manufacturing output fell after rising for seven straight months, Federal Reserve data showed. That followed a 0.2% gain in July. The consensus was for a 0.3% increase in August in a survey compiled by Bloomberg. State-level data from the Bureau of Labor Statistics showed the unemployment rate fell in eight states and Washington, D.C., in August while holding steady elsewhere. The national unemployment rate was reported at 4.1% in August, the same as in July. In corporate news, Berkshire Hathaway (BRK.A, BRK.B) said Warren Buffett stepped down as chairman, with his son Howard Buffett succeeding the 96-year-old billionaire. Berkshire Hathaway Class A and Class B shares were little changed. BlackRock (BLK) is poised to be selected as the preferred manager for a portfolio of Dutch pension assets close to 70 billion euros ($80.2 billion), Bloomberg reported. BlackRock shares added 0.4%. Prudential Financial's (PRU) indirect subsidiary New Veld agreed to sell its entire stake in South Africa-listed Alexander Forbes Group, known as Alexforbes, in deals valued at $185 million. Prudential shares fell 0.1%. Wells Fargo's (WFC) former asset-management unit, Allspring Global Investments, is being prepared for a sale that may value the business at about $4 billion, the Financial Times reported.