Shares of banks and other financial institutions rose, but not by as much as the broad market, as Treasury yields dropped in the wake of the Federal Reserve statement.

The financial sector was among the few whose earnings prospects improved as interest rates and inflation concerns rose.

Shares of Coinbase Global rallied after a federal district judge dismissed a proposed class-action suit accusing the crypto exchange of selling tokens that qualified as unregistered securities.

The fear that cryptocurrencies could be regulated as securities have crimped demand for crypto investments and exchange shares.

Rival Robinhood Markets rose in sympathy.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

02-02-23 1712ET