03:36 PM EST, 03/06/2025 (MT Newswires) -- Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index down 1.8% and the Financial Select Sector SPDR Fund (XLF) dropping 1.7%.

The Philadelphia Housing Index rose 1%, and the Real Estate Select Sector SPDR Fund (XLRE) slumped 2.2%.

Bitcoin (BTC-USD) declined 1.6% to $89,182, and the yield for 10-year US Treasuries rose 2 basis points to 4.29%.

In economic news, US layoff plans increased to 172,017 jobs in February, the highest monthly total since July 2020, driven by government sector cuts, outplacement firm Challenger, Gray & Christmas said.

US initial jobless claims last week fell to 221,000 from 242,000 in the previous week, against expectations for a decrease to 233,000 in Bloomberg survey.

In corporate news, State Street's (STT) State Street Global Advisors lost a mandate with AkademikerPension, a Danish pension fund, following a review that included the asset manager's climate commitments, Bloomberg reported. State Street shares fell 3.3%.