01:56 PM EST, 03/06/2025 (MT Newswires) -- Financial stocks fell in Thursday afternoon trading with the NYSE Financial Index down 1.7% and the Financial Select Sector SPDR Fund (XLF) dropping 1.8%.

The Philadelphia Housing Index rose 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) slumped 2.7%.

Bitcoin (BTC-USD) declined 0.5% to $88,705, and the yield for 10-year US Treasuries rose 3 basis points to 4.29%.

In economic news, US layoff plans increased to 172,017 jobs in February, the highest monthly total since July 2020, driven by government sector cuts, outplacement firm Challenger, Gray & Christmas said.

US initial jobless claims last week fell to 221,000 from 242,000 in the previous week, against expectations for a decrease to 233,000 in Bloomberg survey.

In corporate news, Blackstone (BX) will hire Citigroup ( C ) to raise the equivalent of at least $200 million to back its purchase of South City Mall in Kolkata, India, Bloomberg reported. Blackstone shares fell 4.1%, and Citi dropped 2.9%.

Apollo Capital Management (APO) and Canada Pension Plan Investment Board's acquisition of joint control of Novolex and Pactiv Evergreen (PTVE) was approved by the European Commission. Apollo shares fell 4.5%.

Tradeweb Markets ( TW ) said average daily volume was $2.49 trillion in February, up 33% from a year earlier. The stock declined 2.1%.