01:18 PM EDT, 06/25/2025 (MT Newswires) -- Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the Financial Select Sector SPDR Fund (XLF) down 0.4%.

The Philadelphia Housing Index was falling 2%, and the Real Estate Select Sector SPDR Fund (XLRE) was dropping 1.4%.

Bitcoin (BTC-USD) was increasing 1.1% to $107,229, and the yield for 10-year US Treasuries was rising 2 basis points to 4.31%.

In economic news, Federal Reserve Chair Jerome Powell returned to Capitol Hill on Wednesday for his congressional testimony before the Senate Banking, Housing, and Urban Affairs Committee. The possibility that the Trump administration's tariff plans may result in more persistent inflation is a large enough risk for the central bank to be careful in considering interest rate cuts, Powell told the panel.

In corporate news, Nasdaq (NDAQ) and the New York Stock Exchange are in ongoing talks with the US Securities and Exchange Commission to ease regulatory requirements for public companies to attract more high-value startups to go public, Reuters reported. Nasdaq shares were down 0.3% recently.