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Sector Update: Financial

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Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index declining 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) decreasing 0.6%.

The Philadelphia Housing Index fell 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) dropped 2.3%.

Bitcoin (BTC-USD) dropped 0.9% to $65,060, and the yield for 10-year US Treasuries rose 3.5 basis points to 4.463%.

In economic news, the Federal Reserve kept its benchmark lending rate steady, leaving the easing bias out of its policy statement. The Federal Open Market Committee maintained its federal funds rate target at 3.5% to 3.75%, in line with Wall Street's expectations and marking the fourth straight pause.

In corporate news, Ellington Financial (EFC) shares fell 2.2% after BTIG downgraded the stock to neutral from buy.

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