03:45 PM EST, 02/21/2025 (MT Newswires) -- Financial stocks dropped in late Friday afternoon trading, with the NYSE Financial Index falling 1.2% and the Financial Select Sector SPDR Fund (XLF) down 1.1%.

The Philadelphia Housing Index declined 2.1%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.6%.

Bitcoin (BTC-USD) fell 3.3% to $95,237, and the yield for 10-year US Treasuries dropped 8.1 basis points to 4.42%.

In economic news, the University of Michigan consumer sentiment index was revised downward on Friday to 64.7 for February from 67.8 in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg.

Output growth in the US private sector unexpectedly slowed in February as the services sector contracted, while optimism waned amid concern over the impact of tariffs and domestic spending cuts, S&P Global's (SPGI) flash purchasing managers' index showed. The composite output gauge fell to a 17-month low of 50.4 from 52.7 in January, compared with the 53.2 consensus in a survey compiled by Bloomberg.

In corporate news, Block (XYZ) shares fell past 17%, a day after the company reported Q4 adjusted earnings and revenue that missed estimates by analysts.

Amalgamated (AMAL) shares dropped 7.5% after Piper Sandler downgraded the stock to neutral from overweight, and cut the price target to $38 from $42.

Coinbase (COIN) said Friday that the US Securities and Exchange Commission agreed in principle to dismiss its enforcement case against the cryptocurrency exchange. Coinbase shares were falling 8%.

Mastercard's ( MA ) settlement of a lawsuit over card fees was approved by the UK Competition Appeal Tribunal, Reuters reported. Mastercard ( MA ) shares were down 0.9%.