01:29 PM EST, 02/21/2025 (MT Newswires) -- Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each down 1%.

The Philadelphia Housing Index was dropping 2.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.9%.

Bitcoin (BTC-USD) was declining 1.3% to $97,102, and the yield for 10-year US Treasuries was dropping 8 basis points to 4.42%.

In economic news, the University of Michigan consumer sentiment index was revised downward on Friday to 64.7 for February from 67.8 in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg.

Output growth in the US private sector unexpectedly slowed in February as the services sector contracted, while optimism waned amid worries over the impact of tariffs and domestic spending cuts, S&P Global's (SPGI) flash purchasing managers' index showed. The composite output gauge fell to a 17-month low of 50.4 from 52.7 in January, compared with the 53.2 consensus in a survey compiled by Bloomberg.

In corporate news, Coinbase (COIN) said Friday that the US Securities and Exchange Commission agreed in principle to dismiss its enforcement case against the cryptocurrency exchange. Coinbase shares were falling nearly 5%.