01:34 PM EDT, 04/09/2025 (MT Newswires) -- Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index down 0.7% and the Financial Select Sector SPDR Fund (XLF) climbing nearly 6%.

The Philadelphia Housing Index was spiked 5.6%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 3.6%.

Bitcoin (BTC-USD) gained 5.6% to $80,520, and the yield for 10-year US Treasuries jumped 14 basis points to 4.41%.

In economic news, China raised tariffs on US goods entering the world's second-largest economy to 84% from 34%, effective April 10. The increase follows 104% of US import levies coming into force overnight. Meanwhile, the European Commission said duties would start being collected on the first tranche of tariffs on US imports from April 15, with a second set of measures following on May 15, CNBC reported.

In corporate news, a recession is now "a likely outcome" of President Donald Trump's widespread tariff policy, JPMorgan Chase ( JPM ) Chief Executive Jamie Dimon said Wednesday in an interview on Fox Business. JPMorgan ( JPM ) shares were rising 6%.