Sector Update: Financial Stocks Fall Tuesday

04:03 PM EDT, 09/22/2026 (MT Newswires) -- Financial stocks fell Tuesday with the NYSE Financial Index falling 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 2%. The Philadelphia Housing Index gained 2.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.2%. Bitcoin (BTC-USD) fell 0.3% to $86,223, and the yield for 10-year US Treasuries was little changed at 4.968%. In economic news, Redbook US same-store sales last week rose 7.6% from a year earlier after an 8.5% increase in the previous week. The Richmond Fed's monthly manufacturing index fell to minus 2 in September from 4 in August, compared with the expectations for 2 in a survey compiled by Bloomberg. The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index worsened to minus 22.0 in September from minus 10.6 in August, compared with expectations for an improvement to minus 8.7 in a survey compiled by Bloomberg. In corporate news, funds backed by Apollo Global Management's (APO) Atlas SP Partners face a potential loss of up to 860 million pounds ($1.1 billion) from the collapse of Market Financial Solutions earlier this year, Bloomberg reported, citing court-appointed administrators. Apollo shares fell 2.9%. Goldman Sachs (GS) has emerged as the leading bidder to buy Palmer Square Capital Management, a credit manager that oversees $37 billion, Bloomberg reported. Goldman shares dropped 1%. Better Home Finance (BETR) former CEO Vishal Garg criticized the company's actions related to his effort to remove five directors from its board. The company's shares rose 5.8%. PayPal Holdings (PYPL) entered into a partnership with Meta (META) that will allow customers to shop and checkout using their Muse AI agents. PayPal shares added 0.5%.