02:00 PM EDT, 04/30/2025 (MT Newswires) -- Financial stocks were declining in Wednesday afternoon trading, with the NYSE Financial Index down 0.6% and the Financial Select Sector SPDR Fund (XLF) decreasing 0.5%.

The Philadelphia Housing Index was adding 1.2%, while the Real Estate Select Sector SPDR Fund (XLRE) was up 0.2%.

Bitcoin (BTC-USD) was shedding 0.4% to $93,927, and the yield for 10-year US Treasuries was slightly lower at 4.16%.

In economic news, US economic growth, measured by gross domestic product, fell by 0.3% in the advance estimate for Q1, following a 2.4% gain in Q4, the US Bureau of Economic Analysis said.

The personal consumption expenditures, or PCE, price index was unchanged in March, matching expectations, but decelerated year-over-year to 2.3% from 2.7%. The price index rose by 0.4% month-over-month in February. The core PCE price index, the Fed's preferred inflation gauge, also held steady, versus the 0.1% gain expected.

In corporate news, State Street (STT) said it has appointed John Woods as its chief financial officer, effective in late August. Woods is currently vice chair and CFO at Citizens Financial (CFG). State Street shares were falling 1.2%, and Citizens Financial was down 1.5%.

Banco Bilbao Vizcaya Argentaria's ( BBVA ) 13 billion euro ($14.8 billion) bid for Banco Sabadell has been approved by Spain's antitrust agency under strict conditions, Bloomberg reported. BBVA shares fell 2.8%.

Visa (V) late Tuesday reported stronger-than-expected fiscal Q2 results as it benefited from gains in payments and cross-border volume. Its shares added 0.5%.