Stock Market Update
22-Sep-26 12:05 ET
Financials sector lags
Dow -284.38
at 51764.45,
Nasdaq +66.32
at 27209.46,
S&P -4.26
at 7760.44
[BRIEFING.COM] The major averages remain mixed and little changed from earlier levels, with the S&P 500 hovering near its flat line as buyers and sellers show little conviction.
The financials sector (-2.0%) remains the clear weak spot and has become a more prominent drag as the session has progressed. Selling is broad across the sector's industry groups, with banks, regional banks, insurers, and asset managers all under pressure amid increased attention to a flattening yield curve and concerns about softer trading and investment banking activity. Technical weakness is adding to the pressure, with several key financial groups extending declines below their 50-day moving averages. Charles Schwab (SCHW 100.33, -6.55, -6.13%), Allstate (ALL 227.98, -14.88, -6.13%), and Wells Fargo (WFC 83.38, -3.16, -3.65%) are among the more pronounced individual laggards.
The sector's weakness is having an outsized effect on the DJIA given the average's greater exposure to large financial companies, helping explain its continued underperformance relative to the S&P 500 and Nasdaq.
