03:29 PM EDT, 04/04/2024 (MT Newswires) -- Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index declining 0.5% and the Financial Select Sector SPDR Fund (XLF) down 0.8%.

The Philadelphia Housing Index shed 1.4% and the Real Estate Select Sector SPDR Fund (XLRE) dropped 0.6%.

Bitcoin (BTC-USD) rose 3.9% to $68,570, and the yield for 10-year US Treasuries fell 5 basis points to 4.31%.

In economic news, US initial jobless claims rose to 221,000 in the week ended March 30, the highest since January, from an upwardly revised 212,000 level in the previous week and compared with expectations for 214,000 in a Bloomberg survey.

The US international trade deficit widened for a third consecutive month to $68.9 billion in February from a $67.6 billion gap in January, versus the $67.6 billion shortfall expected in a survey compiled by Bloomberg, as growth in imports outpaced exports.

In corporate news, Bank of America ( BAC ) has little upside beyond current trading levels as business momentum is already priced into the stock, while upcoming Federal Reserve interest rate cuts may trigger downward revisions to the asset-sensitive bank's earnings, UBS Securities said Thursday. The brokerage downgraded BofA to neutral from buy while lifting its price target to $40 from $39. Bank of America ( BAC ) shares fell 1.3%.