03:25 PM EDT, 03/13/2025 (MT Newswires) -- Financial stocks declined in late Thursday afternoon trading with the NYSE Financial Index down 0.7% and the Financial Select Sector SPDR Fund (XLF) off 0.4%.

The Philadelphia Housing Index fell 1.9%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 1.8%.

Bitcoin (BTC-USD) fell 3.6% to $80,690, and the yield for 10-year US Treasuries was dropped 4.4 basis points to 4.274%.

In economic news, President Donald Trump threatened to impose a 200% tariff on imports of European alcoholic products in response to retaliatory duties announced by the EU on Wednesday. The US administration's 25% global levies on steel and aluminum imports took effect that day.

The US producer price index remained unchanged in February, compared with an upwardly revised 0.6% increase in January, the Bureau of Labor Statistics said. The print lagged behind the 0.3% growth estimate in a survey compiled by Bloomberg.

In corporate news, UBS (UBS) is considering selling a portion of its asset management division that is mostly focused on real estate investments, Reuters reported. UBS shares shed 0.4%.