01:44 PM EDT, 04/10/2024 (MT Newswires) -- Financial stocks fell in Wednesday afternoon trading, with the NYSE Financial Index dropping 1.7% and the Financial Select Sector SPDR Fund (XLF) off 1.6%.

The Philadelphia Housing Index tumbled 4,1%, and the Real Estate Select Sector SPDR Fund (XLRE) slumped 4.7%.

Bitcoin (BTC-USD) gained 0.4% to $69,418, and the yield for 10-year US Treasuries jumped 19 basis points to 4.55%.

In economic news, the consumer price index rose 0.4% sequentially in March, the Bureau of Labor Statistics said Wednesday, matching February's growth rate but ahead of the 0.3% consensus, according to a Bloomberg-compiled survey. Annually, the rate accelerated to 3.5% from 3.2% in the previous month, higher than the Street's estimate of 3.4%.

In corporate news, shares of title insurers slumped after Bloomberg reported the Consumer Financial Protection Bureau is considering whether to bar mortgage bankers from charging homebuyers for title insurance that protects lenders. Fidelity National Financial ( FNF ) dropped 9.4%, First American Financial ( FAF ) fell 8.5% and Stewart Information Services ( STC ) shares lost 7.4%.

Switzerland's Federal Council is proposing reforms that would require systemically important banks to hold more capital against their overseas units, Bloomberg reported, citing a report on banking stability. The proposed changes would identify UBS (UBS) as the country's sole globally systemic lender and would target the way it accounts for its overseas subsidiaries. UBS shares fell 4.3%.

MarketAxess ( MKTX ) needs more creativity when it comes to protocols and data to retain its US credit growth trajectory, BofA Securities said in a report. BofA started coverage of the company with an underperform rating and a $199 price target. MarketAxess ( MKTX ) shares fell 2.3%.