Sector Update: Financial Stocks Lower in Late Afternoon Trading

04:01 PM EDT, 10/19/2026 (MT Newswires) -- Financial stocks declined in late Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding 0.8%. The Philadelphia Housing Index was falling 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was declining 1.2%. Bitcoin (BTC-USD) was up 1.3% to $81,905, and the yield for 10-year US Treasuries rose five basis points to 5.15%. In corporate news, BlackRock (BLK) is among investors taking anchor stakes in Jio Platforms' $3.2 billion initial public offering, Bloomberg reported. BlackRock shares were down 0.6%. Ameriprise Financial's (AMP) rehiring its own advisors with retention bonuses amid large departures, while competitors outperform on recruiting and net new assets, might impact operating margins, BofA Securities said in a research report. The brokerage said it downgraded the stock to underperform from a buy rating and cut its price target to $445 per share from $570. Ameriprise Financial shares were shedding 4%. Fifth Third Bancorp's (FITB) Q3 profit topped Wall Street's estimates as net interest income rose, while its chief executive highlighted the bank's strengths amid macro headwinds and stiff deposit competition. Its shares added 0.4%. Blackstone (BX) has raised $8.7 billion for Blackstone Energy Transition Partners V, a new fund dedicated to cleaner energy, the company said Monday. The latest fund is more than 50% larger than its predecessor vehicle, the company said. Separately, Anthropic has offered Blackstone a yield of more than 10% on its investment as part of a larger $60 billion debt package to finance the AI firm's latest chip deal, the Financial Times reported Saturday. Blackstone shares rose 0.4%. KKR (KKR) has signed a definitive deal to sell railcar and intermodal equipment lessor Infinity Transportation to Ares Management's (ARES) Ares Infrastructure Equity and Ares Insurance Solutions funds for an enterprise value of about $2.9 billion, the companies said. KKR shares rose 1%, and Ares increased 0.6%.