03:55 PM EDT, 09/03/2024 (MT Newswires) -- Financial stocks fell in late Tuesday afternoon trading with the NYSE Financial Index down 0.9% and the Financial Select Sector SPDR Fund (XLF) shedding 1%.

The Philadelphia Housing Index slumped 3.1%, and the Real Estate Select Sector SPDR Fund (XLRE) eased 0.2%, erasing earlier gains.

Bitcoin (BTC-USD) declined 1.7% to $58,154, and the yield for 10-year US Treasuries fell 5.7 basis points to 3.854%.

In economic news, the Institute for Supply Management's US manufacturing index rose to 47.2 in August from 46.8 in July, missing expectations for an improvement to 47.5 in a survey compiled by Bloomberg.

In corporate news, TPG (TPG) sold its stake in Sixth Street back to the firm for over $1 billion last month, Semafor reported. TPG shares fell 3.5%.

Simon Property ( SPG ) shares dropped 2.4% as Piper Sandler downgraded the stock to neutral from overweight and cut its price target to $175 from $190.

Redfin (RDFN) shares rose 0.5%. The company is poised for growth amid signs of improving business fundamentals and a potentially favorable macro backdrop from lower interest rates, B. Riley Securities said. B. Riley upgraded its rating on Redfin's stock to buy from neutral and raised the price target to $13 from $7.50.

KKR's (KKR) planned tender offer to buy Japanese systems developer Fuji Soft may be derailed by Bain Capital's counteroffer of 600 billion Japanese yen ($4.11 billion), according to media reports. KKR shares fell 5%.