Financial Shares Get Hurt in Equities Selloff— Financials Roundup
Financial sector shares fell on the rising prospect of higher interest rates.
Federal Reserve Gov. Michael Barr said further rate increases are likely needed to ensure inflation comes down to target in a timely fashion. Barr expressed that he supported the Fed's decision to raise interest rates by a quarter-percentage point last week, speaking at an event in Chicago. He noted that risks to achieving the Fed's inflation target have risen.
Paychex reported slower sales growth in its latest quarter and pointed to momentum with its artificial-intelligence-driven offerings.
Forward Industries said it has entered a $25 million securities-purchase agreement with an institutional investor. The Solana-focused digital-asset treasury company said it will sell about 3.13 million shares of its common stock in the direct offering at $8 apiece. It intends to use proceeds to acquire additional SOL.
Bitcoin ETFs have posted a net inflow of more than $2.3 billion over four consecutive days, with more than $1.7 billion of that reported in the past two days, according to data from Coinglass. Analysts now say the next psychological price level for bitcoin is at $90,000.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
September 23, 2026 17:21 ET (21:21 GMT)
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