03:53 PM EDT, 03/14/2024 (MT Newswires) -- Financial stocks declined in late Thursday afternoon trading with the NYSE Financial Index shedding 1.4% and the Financial Select Sector SPDR Fund (XLF) dropping 1.2%.

The Philadelphia Housing Index slumped 3%, and the Real Estate Select Sector SPDR Fund (XLRE) declined 2%.

Bitcoin (BTC-USD) dropped 4.5% to $69,822, and the yield for 10-year US Treasuries jumped almost 11 basis points to 4.30%.

In economic news, the US producer price index rose 0.6% in February, following a 0.3% increase in January, above the 0.3% gain expected in a survey compiled by Bloomberg.

US retail sales rose 0.6% in February, versus the 0.8% increase expected in a survey compiled by Bloomberg and following the previous month's 1.1% decline.

In corporate news, JPMorgan ( JPM ) was fined $250 million by the Office of the Comptroller of the Currency due to alleged deficiencies in the company's trade surveillance program, the regulator said. JPMorgan ( JPM ) shares fell 2%.

Futu ( FUTU ) shares sank 14% after the company reported Q4 income and revenue below analyst estimates.

International General Insurance (IGIC) closed 2023 with continued strong underwriting margins, RBC Capital Markets said Wednesday in a report. RBC kept its outperform rating with a price target of $15. International General Insurance ( IGIC ) shares were down 1%.

New York Community Bancorp ( NYCB/PU ) recently sold a commercial co-operative loan and a portfolio of consumer loans with a net book value of $899 million as part of efforts to revitalize its balance sheet after identifying material weaknesses with how it assessed loan risks, the bank said. Its shares were down fractionally.