03:48 PM EDT, 08/05/2024 (MT Newswires) -- Financial stocks declined in late Monday afternoon trading with the NYSE Financial Index falling 2.7% and the Financial Select Sector SPDR Fund (XLF) dropping 2.9%.

The Philadelphia Housing Index fell 2.8%, and the Real Estate Select Sector SPDR Fund (XLRE) slumped 2.4%.

Bitcoin (BTC-USD) tumbled 9.2% to $52,784, and the yield for 10-year US Treasuries was little changed at 3.79%.

In economic news, two surveys released Monday painted a mixed picture of the US services sector for July with the Institute for Supply Management's data showing that activity expanded more than expected, while S&P Global (SPGI) indicated a slight deceleration in growth.

In corporate news, Prudential Financial ( PRU ) plans to issue up to $3 billion worth of debt to raise funds for general corporate purposes. The shares fell 4.6%.

Charles Schwab ( SCHW ) shares dropped 2.1%. The company resolved a technical issue that caused some customers to have trouble logging into their accounts earlier in the day amid a global stock selloff.

Funds managed by Carlyle (CG) agreed to sell independent power producer Cogentrix Energy to Quantum Capital and affiliates for $3 billion, Quantum Capital said. Carlyle shares tumbled 7.2%.

Berkshire Hathaway (BRK.A) shares fell 3.6% as the company reported Q2 net earnings of $21,122 per average equivalent class A share, down from $24,774 a year earlier.