01:57 PM EDT, 08/28/2024 (MT Newswires) -- Financial stocks were edging lower in Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each easing about 0.1%

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

Bitcoin (BTC-USD) was declining 4% to $59,061, and the yield for 10-year US Treasuries was slightly higher at 3.84%.

In corporate news, B. Riley Financial's ( RILY ) lenders have given the company additional time to file an overdue financial report, Bloomberg reported. B. Riley shares were falling over 5%.

The US Securities and Exchange Commission has retreated from a plan to impose so-called swing pricing for mutual funds during periods of high redemptions in an apparent win for asset managers like BlackRock ( BLK ) and T. Rowe Price (TROW), Bloomberg reported. BlackRock ( BLK ) shares added 0.4%, while T. Rowe was 0.2% lower.

HSBC's ( HSBC ) future Chief Executive Georges Elhedery is considering cutting back middle management at the bank, Bloomberg reported late Tuesday. HSBC ( HSBC ) shares were falling 0.7%.