03:31 PM EST, 02/26/2025 (MT Newswires) -- Financial stocks eased in late Wednesday afternoon trading with the NYSE Financial Index dropping 0.1% and the Financial Select Sector SPDR Fund (XLF) down 0.3%.

The Philadelphia Housing Index fell 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) declined 0.5%.

Bitcoin (BTC-USD) dropped 6.4% to $82,998, and the yield for 10-year US Treasuries fell 5 basis points to 4.25%.

In economic news, US new home sales fell to a 657,000 annual rate in January from an upwardly revised 734,000 rate in December, below the 680,000 rate expected in a survey compiled by Bloomberg.

Mortgage applications fell by 1.2% in the week ended Friday as a more pessimistic view of the economy offset a drop in mortgage rates, according to Mortgage Bankers Association data.

In corporate news, Flywire ( FLYW ) shares tumbled 38%. The company reported a Q4 net loss late Tuesday of $0.12 per diluted share, swinging from earnings of $0.01 a year earlier. Analysts polled by FactSet expected a loss of $0.01.