01:41 PM EDT, 03/13/2025 (MT Newswires) -- Financial stocks declined in Thursday afternoon trading, with the NYSE Financial Index down 0.8% and the Financial Select Sector SPDR Fund (XLF) off 0.7%.

The Philadelphia Housing Index was falling 2.2%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 1.6%.

Bitcoin (BTC-USD) fell 3% to $80,238, and the yield for 10-year US Treasuries was dropping 4.6 basis points to 4.27%.

In economic news, President Donald Trump threatened to impose a 200% tariff on imports of European alcoholic products in response to retaliatory duties announced by the EU on Wednesday. The US administration's 25% global levies on steel and aluminum imports took effect that day.

The US producer price index remained unchanged in February, compared with an upwardly revised 0.6% increase in January, the Bureau of Labor Statistics said Thursday. The print lagged the 0.3% growth estimate in a survey compiled by Bloomberg.

In corporate news, State Street (STT) will continue to manage a 46 billion-franc ($52 billion) Swiss pension fund after legislators there rejected a bid to remove the company and reassert domestic control, according to media reports. State Street shares were down 1.7%.