01:39 PM EDT, 05/21/2025 (MT Newswires) -- Financial stocks were slipping in Wednesday afternoon trading, with the NYSE Financial Index falling 1.3% and the Financial Select Sector SPDR Fund (XLF) dropping 1.7%.

The Philadelphia Housing Index slumped 2.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 1.9%.

Bitcoin (BTC-USD) was increasing 0.5% to $107,358, and the yield for 10-year US Treasuries jumped 10 basis points to 4.58%.

In economic news, the EU is expected to provide the US with a revised trade proposal, as it looks to boost the momentum of talks, Bloomberg reported.

In corporate news, HSBC ( HSBC ) warned employees at its UK unit of a reduction in bonuses if they fail to report to the office at least three days a week, Bloomberg reported. HSBC ( HSBC ) shares were down 0.6%.