03:46 PM EDT, 03/28/2025 (MT Newswires) -- Financial stocks were lower in late Friday afternoon trading, with the NYSE Financial Index shedding 1.8% and the Financial Select Sector SPDR Fund (XLF) dropping 2.1%.

The Philadelphia Housing Index was retreating 2.7%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.1%.

Bitcoin (BTC-USD) was falling 4.2% to $83,693, and the yield for 10-year US Treasuries was dropping 10.8 basis points to 4.26%.

In economic news, February's core personal consumption expenditures price index, which excludes food and energy, accelerated to 2.8%, the Bureau of Economic Analysis said on Friday. The growth was higher than the previous month's 2.7% increase, which is the Bloomberg consensus for February.

The University of Michigan consumer sentiment index was revised lower to 57 for March from 57.9 in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg.

In corporate news, W. R. Berkley ( WRB ) shares jumped 7.2%. The company said Mitsui Sumitomo Insurance has agreed to buy 15% of its stock via open market purchases or private deals with third parties.

Blackstone's (BX) buyout fund is finishing late and below its initial target for fundraising, Bloomberg reported. Blackstone shares were falling 4.6%.

PayPal ( PYPL ) could be subjected to fees by the EU as part of a tariff dispute with the US, Reuters reported, citing Bernd Lange, head of the European Parliament's international trade committee. PayPal ( PYPL ) shares dropped 5.5%.

KKR (KKR) and a Japan Investment unit teamed up to invest in Japan's Topcon as part of a management buyout that will see the optical and medical equipment maker become a private company, the companies said in a joint statement Friday. KKR shares were down 2.3%.