01:27 PM EDT, 05/23/2025 (MT Newswires) -- Financial stocks fell in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both shedding 0.2%.

The Philadelphia Housing Index dropped 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.1%.

Bitcoin (BTC-USD) declined 2% to $109,500, and the yield for 10-year US Treasuries was dropping 4.4 basis points to 4.509%.

In economic news, President Donald Trump said he's recommending a "straight" 50% tariff on the EU, effective June 1 because the bloc has been "very difficult to deal with."

In corporate news, Douglas Elliman ( DOUG ) received a merger offer from Anywhere Real Estate ( HOUS ) this week that would value the company at double its current share price, Bloomberg reported. Douglas Elliman ( DOUG ) shares jumped 33%, and Anywhere gained 3.4%.