01:32 PM EDT, 04/16/2024 (MT Newswires) -- Financial stocks fell in Tuesday afternoon trading with the NYSE Financial Index down 0.6% and the Financial Select Sector SPDR Fund (XLF) off 0.2%.

The Philadelphia Housing Index dropped 1.2%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 1.1%.

Bitcoin (BTC-USD) declined 0.6% to $63,065, and the yield for 10-year US Treasuries rose 4 basis points to 4.67%.

In economic news, US housing starts dropped 15% to a seasonally adjusted annual rate of 1.32 million units in March from February's upwardly revised 1.55 million print, the Census Bureau and the Department of Housing and Urban Development said. The consensus was for housing starts of 1.49 million in a survey compiled by Bloomberg. Annually, starts decreased 4.3%.

US industrial production in Q1 declined 1.8% from a year earlier, the Federal Reserve said. On a monthly basis, industrial production rose 0.4% in March from February, matching market forecasts.

In corporate news, Bank of America's ( BAC ) Q1 earnings and revenue fell from a year earlier amid a drop in net interest income, which the bank said will likely hit a trough in the current quarter before rebounding later this year. Its shares tumbled 3.7%.