03:34 PM EST, 12/02/2024 (MT Newswires) -- Financial stocks fell in late Monday afternoon trading with the NYSE Financial Index down 0.6% and the Financial Select Sector SPDR Fund (XLF) dropping 0.7%.

The Philadelphia Housing Index was little changed, and the Real Estate Select Sector SPDR Fund (XLRE) was falling 1.6%.

Bitcoin (BTC-USD) declined 1.3% to $96,056, and the yield for 10-year US Treasuries rose 2 basis points to 4.20%.

In economic news, the Institute for Supply Management's US manufacturing index increased to 48.4 in November from 46.5 in the previous month, above the expected 47.6 reading in a survey compiled by Bloomberg.

US construction spending rose by 0.4% in October, compared with a 0.2% increase expected in a survey compiled by Bloomberg.

In corporate news, Upstart (UPST) shares tumbled 14% after the stock was downgraded by JPMorgan to underweight with a $57 price target.