01:20 PM EDT, 07/08/2025 (MT Newswires) -- Financial stocks were lower in Tuesday afternoon trading, with the NYSE Financial Index down 0.3% and the Financial Select Sector SPDR Fund (XLF) shedding 0.7%.

The Philadelphia Housing Index was adding 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) eased 0.2%.

Bitcoin (BTC-USD) was increasing 0.4% to $108,805, and the yield for 10-year US Treasuries was rising 3 basis points to 4.425%.

In economic news, President Donald Trump said in a post on Truth Social that tariffs against a broad group of trading partners would take effect Aug. 1, with no extensions granted.

The National Federation of Independent Business' monthly Small Business Optimism Index fell to 98.6 in June from 98.8 in May. The gauge rose from 91.5 a year earlier.

Redbook US same-store sales last week rose 5.9% from a year earlier, following after a 4.9% increase in the prior week.

In corporate news, the Kuwait Investment Authority sold a $3.1 billion stake in Bank of America ( BAC ) in an overnight block trade, Bloomberg reported. Bank of America ( BAC ) shares were down 2.9%.