03:34 PM EST, 03/04/2025 (MT Newswires) -- Financial stocks fell in late Tuesday afternoon trading with the NYSE Financial Index dropping 1.8% and the Financial Select Sector SPDR Fund (XLF) slumping 2.2%.

The Philadelphia Housing Index rose 04%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.4%.

Bitcoin (BTC-USD) gained 3% to $88,775, and the yield for 10-year US Treasuries rose 3 basis points to 4.21%.

In economic news, the Trump administration imposed 25% tariffs on Canada and Mexico while doubling tariffs on goods from China to 20%. Canada is responding with an initial tranche of retaliatory tariffs on $30 billion of US goods and plans to raise the levies to $155 billion of imports. China imposed 10% to 15% levies on US food and agricultural products while placing export and investment restrictions on 25 US companies. Mexico's President Claudia Sheinbaum also said Tuesday that Mexico will impose retaliatory tariffs on US goods.

In corporate news, the US Consumer Financial Protection Bureau dismissed its lawsuit against Early Warning Services, the operator of the Zelle digital payments network, and three of its owner banks, Bank of America ( BAC ) , JPMorgan Chase ( JPM ) , and Wells Fargo ( WFC ) , according to a court filing. Bank of America ( BAC ) shares fell 5.2%, JP Morgan dropped 3% and Wells Fargo ( WFC ) shed 3.7%.