03:12 PM EDT, 10/16/2025 (MT Newswires) -- Financial stocks declined in late Thursday afternoon trading with the NYSE Financial Index falling 1.8% and the Financial Select Sector SPDR Fund (XLF) dropping 2.7%.

The Philadelphia Housing Index lost 1%, while the Real Estate Select Sector SPDR Fund (XLRE) eased 0.1%.

Bitcoin (BTC-USD) declined 2% to $108,532, and the yield for 10-year US Treasuries dropped 7 basis points to 3.98%.

In corporate news, Zions Bancorporation (ZION) shares fell past 12% after the bank disclosed a $50 million charge-off, which will be reflected in Q3 earnings. The charge stems from an internal review of two borrowers and their obligators, which uncovered "apparent misrepresentations and contractual defaults," along with other irregularities involving the loan and its collateral, the bank said Thursday in a regulatory filing.