Sector Update: Financial

03:32 PM EDT, 09/16/2026 (MT Newswires) -- Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index falling 1.8% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 2.3% The Philadelphia Housing Index shed 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1%. Bitcoin (BTC-USD) decreased 0.4% to $75,280, and the yield for 10-year US Treasuries rose 1 basis point to 5.01%. In economic news, the Federal Open Market Committee raised the target range for its federal funds rate to 3.75% to 4.00% Wednesday on a 12-0 vote, while projections suggest another rate hike is possible this year. "Inflation remains elevated," the FOMC said in its statement. "Today's policy action will support a timelier return to the Committee's 2% goal. The Committee will deliver price stability." Median expectations in the Summary of Economic Projections now show a further rate hike this year, as the median expectation was adjusted up to 4.1% from 3.8% in the previous update in June, reflecting both Wednesday's action and expectations for a further increase. In corporate news, CoinShares (CSHR) said Wednesday that its shareholders approved all resolutions put to them at Tuesday's extraordinary general meeting, including authority to buy back up to 25% of its outstanding ordinary shares and adoption of the 2026 equity incentive plan. CoinShares shares rose 1.3%.