03:34 PM EDT, 03/19/2025 (MT Newswires) -- Financial stocks rose in late Wednesday afternoon trading with the NYSE Financial Index adding 1.3% and the Financial Select Sector SPDR Fund (XLF) up 1%.

The Philadelphia Housing Index climbed 1.5%, and the Real Estate Select Sector SPDR Fund (XLRE) increased 0.4%.

Bitcoin (BTC-USD) rose 2.9% to $85,150, and the yield for 10-year US Treasuries dropped 3 basis points to 4.26%.

In economic news, the Federal Open Market Committee does not need to rush to lower interest rates, particularly due to the heightened uncertainty around the economy in general and tariffs particularly, Federal Reserve Chairman Jerome Powell said Wednesday in a press conference after the FOMC meeting. The FOMC held the current range of the federal funds rate at 4.25% to 4.50%.

In corporate news, HSBC ( HSBC ) is in advanced talks to sell its German fund administration unit Inka to private equity firm BlackFin Capital Partners, Bloomberg reported. HSBC ( HSBC ) shares added 0.3%.