Sector Update: Financial

Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index declining 0.4% and the Financial Select Sector SPDR Fund (XLF) easing 0.1%.

The Philadelphia Housing Index dropped 1.4%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.4%.

Bitcoin (BTC/USD) declined 3.3% to $64,228, and the yield for 10-year US Treasuries rose 5 basis points to 4.65%.

In economic news, new orders for US durable goods rose 2.6% in March following a downwardly revised gain of 0.7%, above expectations for a 2.5% increase in a survey compiled by Bloomberg. Excluding a 7.7% jump in transportation orders, new orders would have been up only 0.2% in March, as expected after a 0.1% increase in February.

In other news, the US Chamber of Commerce filed a lawsuit in a federal court in East Texas challenging the Federal Trade Commission's recent rule banning companies from enforcing noncompete agreement on anyone other than senior executives.

In corporate news, Carlyle Group's CG founders and other corporate executives lost their attempt to end litigation early over a $344 million buyout of tax agreements tied to the company's public listing. Carlyle shares fell 0.6%.