01:45 PM EST, 03/03/2025 (MT Newswires) -- Financial stocks fell in Monday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) down 0.3%.

The Philadelphia Housing Index eased 0.2%, while the Real Estate Select Sector SPDR Fund (XLRE) climbed 1.1%.

Bitcoin (BTC-USD) was falling 5.5% to $88,732, and the yield for 10-year US Treasuries was dropping 5.1 basis points to 4.18%.

In economic news, the Institute for Supply Management's US manufacturing index fell to 50.3 in February from 50.9 in January, compared with expectations for 50.8 in a survey compiled by Bloomberg.

In corporate news, Ready Capital ( RC ) shares dropped 29% after its Q4 revenue missed analysts' expectations.

Howard Hughes (HHH) shares fell 2.3% after it said Monday that the special committee of its board hasn't accepted the Feb. 18 proposal from Pershing Square Capital Management to buy 10 million newly issued common shares of Howard Hughes for $90 per share.

Carlyle (CG) is aiming to raise more than $3 billion for a new infrastructure fund, Bloomberg reported. Carlyle shares were shedding 1.4%.