03:36 PM EDT, 04/10/2025 (MT Newswires) -- Financial stocks slumped in late Thursday afternoon trading with the NYSE Financial Index dropping 3% and the Financial Select Sector SPDR Fund (XLF) sliding 3.%.

The Philadelphia Housing Index fell 3.1%, and the Real Estate Select Sector SPDR Fund (XLRE) retreated 2.1%.

Bitcoin (BTC-USD) declined 3.7% to $79,494, and the yield for 10-year US Treasuries was little changed at 4.39%.

In economic news, the US tariff rate on goods coming from China now totals 145%, CNBC reported, citing confirmation from a White House official. Trump's executive order on Wednesday raised the tariff rate on China to 125% from 84%, but that hike comes on top of a 20% fentanyl-related tariff that Trump previously levied on the nation, the report said.

The consumer price index decreased 0.1% in March, compared with the Bloomberg-polled consensus for a 0.1% increase. Prices were up 0.2% in February. Annually, inflation cooled to 2.4% in March from the previous month's 2.8% pace and came in below Wall Street's estimate for 2.5%.

In corporate news, T. Rowe Price ( TROW ) shares dropped 4.8%. The company reported preliminary assets under management of $1.57 trillion as of March 31, down from $1.63 trillion in February.