03:29 PM EDT, 05/23/2025 (MT Newswires) -- Financial stocks were mixed late Friday afternoon trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) shedding 0.2%.

The Philadelphia Housing Index declined 0.4%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.1%.

Bitcoin (BTC-USD) declined 2.4% to $108,968, and the yield for 10-year US Treasuries fell 4 basis points to 4.51%.

In economic news, President Donald Trump said he's recommending a "straight" 50% tariff on the EU, effective June 1, because the bloc has been "very difficult to deal with." The EU is the US's largest trading partner, accounting for 18% of total trade, a Stifel note said.

New home sales in the US unexpectedly rose in April despite an increase in median prices, government data showed Friday. Single-family home sales rose 10.9% sequentially to a seasonally adjusted annual rate of 743,000 units last month, according to the Census Bureau and the Department of Housing and Urban Development. The Bloomberg-polled consensus was for a 4% decline based on the unrevised March print.

In sector news, major US banks are in talks over the potential issuance of a joint stablecoin, which serves as a digital dollar in cryptocurrency markets, The Wall Street Journal reported Thursday. The talks have involved companies co-owned by Citigroup (C), Wells Fargo (WFC), Bank of America (BAC), JPMorgan Chase (JPM), and other major commercial banks so far, the report said.

In corporate news, Kingstone (KINS) shares jumped past 8% after the company's chief executive disclosed the acquisition of 5,000 company shares in a filing with the Securities and Exchange Commission.