01:25 PM EDT, 05/14/2025 (MT Newswires) -- Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.3% and the Financial Select Sector SPDR Fund (XLF) off 0.5%.

The Philadelphia Housing Index was falling 1.6%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.9%.

Bitcoin (BTC-USD) was declining 1.1% to $103,040, and the yield for 10-year US Treasuries was up 2 basis points at 4.52%.

In economic news, Federal Reserve Vice Chair Philip Jefferson said Wednesday at the New York Fed's Annual Conference of Second District Directors and Advisors that monetary policy is in a good position to deal with the possible inflation impacts of the Trump Administration's tariff plans.

In corporate news, Blackstone's (BX) joint venture sold $395 million of commercial real estate loans linked to New York area properties to Bayview Asset Management, Bloomberg reported. Blackstone shares were down 0.3%.