01:32 PM EDT, 03/22/2024 (MT Newswires) -- Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each shedding 0.8%.

The Philadelphia Housing Index was edging down 0.1% and the Real Estate Select Sector SPDR Fund (XLRE) fell 1.1%.

Bitcoin (BTC-USD) was dropping more than 4% to $63,452, and the yield for 10-year US Treasuries slumped 6 basis points to 4.21%.

In economic news, state-level data released by the Bureau of Labor Statistics Friday showed the unemployment rate fell in three states in February, rose in three, and held steady elsewhere. The national unemployment rate was reported at 3.9% in February, up from 3.7% in January.

Separately, President Joe Biden is appointing two new economic advisors as he pursues his administration's industrial policy and reinforces restrictions on China before the November election, Bloomberg reported Friday.

In corporate news, Digital World Acquisition ( DWAC ) shareholders reportedly approved a merger with Trump Media & Technology Group. Digital World shares were falling more than 5%.