Financial stocks rose in Wednesday afternoon trading with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund (XLF) increasing 0.6%.

The Philadelphia Housing Index added 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 02%.

Bitcoin (BTC-USD) rose 2.3% to $84,620, and the yield for 10-year US Treasuries climbed 3.3 basis points to 4.31%.

In economic news, the Fed's monetary policy decision for March is due at 2 pm ET, and Powell is scheduled to hold a press conference at 2:30 pm. The central bank likely held its benchmark lending rate unchanged in the 4.25% to 4.5% target range, according to the CME FedWatch tool.

In corporate news, BlackRock (BLK) and insurers Allianz and T&D are investing 3.5 billion euros ($3.81 billion) in European life insurance consolidation platform Viridium. BlackRock shares fell 0.5%.

Apollo Global Management (APO) shares rose 3.4%. Funds managed by the company's affiliates agreed to buy a majority stake in OEG Energy in a deal valued at more than $1 billion.

Deutsche Bank (DB) shares fell 1%. Chief Executive Officer Christian Sewing said the lender intends to reduce branches by "a significant number" and that it will cut almost 2,000 people in the personal bank division this year.