03:50 PM EDT, 03/22/2024 (MT Newswires) -- Financial stocks were in the red in late Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both falling 0.9%.

The Philadelphia Housing Index was edging down 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 1%.

Bitcoin (BTC-USD) was dropping 2.5% to $63,855, and the yield for 10-year US Treasuries slumped 5.3 basis points to 4.22%.

In economic news, state-level data released by the Bureau of Labor Statistics Friday showed the unemployment rate fell in three states in February, rose in three, and held steady elsewhere. The national unemployment rate was reported at 3.9% in February, up from 3.7% in January.

Separately, President Joe Biden is appointing two new economic advisors as he pursues his administration's industrial policy and reinforces restrictions on China before the November election, Bloomberg reported Friday.

In corporate news, American Realty Investors ( ARL ) shares tumbled 6.1% after reporting Q4 net loss of $0.13 per diluted share, compared to earnings of $2.69 per share a year earlier.

Digital World Acquisition ( DWAC ) shareholders reportedly approved a merger with Trump Media & Technology Group. Digital World shares were falling nearly 11%.

BlackRock ( BLK ) urged the Texas Permanent School Fund Thursday to reconsider its decision to terminate its contract and pull $8.5 billion in assets. Its shares were 2.1% lower.

Separately, Federal Reserve Vice Chair for Supervision Michael Barr said significant changes will likely be made to a proposal that would force financial institutions to hold more capital, according to Bloomberg News.