03:35 PM EST, 11/06/2024 (MT Newswires) -- Financial stocks surged in late Wednesday afternoon trading with the NYSE Financial Index jumping 4.2% and the Financial Select Sector SPDR Fund (XLF) soaring 6%.

The Philadelphia Housing Index fell 1.2%, and the Real Estate Select Sector SPDR Fund (XLRE) slumped 2.7%.

Bitcoin (BTC-USD) jumped 9.6% to $75,965, and the yield for 10-year US Treasuries surged 14 basis points to 4.43%.

In economic news, mortgage applications fell 11% in the week ended Friday as mortgage rates rose to the highest since July, according to the Mortgage Bankers Association.

In corporate news, the fees Visa (V) and MasterCard ( MA ) charge retailers in the EU are under probe by the bloc's regulators to see if the costs are hurting businesses, Reuters reported. Visa shares gained 4.3% and Mastercard ( MA ) rose 2.7%.