02:01 PM EDT, 05/21/2025 (MT Newswires) -- Financial stocks declined in Wednesday afternoon trading, with the NYSE Financial Index falling 1.5% and the Financial Select Sector SPDR Fund (XLF) dropping 1.6%.

The Philadelphia Housing Index slumped 2.3%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 1.9%.

Bitcoin (BTC-USD) was increasing 0.2% to $106,540, and the yield for 10-year US Treasuries jumped 10.8 basis points to 4.59%.

In economic news, the EU is expected to provide the US with a revised trade proposal, as it looks to boost the momentum of talks, Bloomberg reported.

In corporate news, HSBC ( HSBC ) warned employees at its UK unit of a reduction in bonuses if they fail to report to the office at least three days a week, Bloomberg reported. HSBC ( HSBC ) shares were down 0.6%.

Mizuho Financial ( MFG ) unit Mizuho Bank, JPMorgan Chase ( JPM ) , and Sumitomo Mitsui Banking are serving as lead underwriters for a $15 billion bridge loan to SoftBank for AI investments, Bloomberg reported. Mizuho Financial ( MFG ) shares rose 2.9% and JPMorgan ( JPM ) was shedding 1.3%.

BancFirst ( BANF ) shares dropped 2.4% after it said Wednesday it will buy American Bank of Oklahoma, a privately held lender with $385 million in assets, in a deal expected to close in Q3.

CFSB Bancorp ( CFSB ) shares jumped 66% after the company said it has agreed to be acquired by Hometown Financial in a deal valued at about $44 million.