01:42 PM EDT, 03/21/2025 (MT Newswires) -- Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) down 0.2%.

The Philadelphia Housing Index was falling 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.6%.

Bitcoin (BTC-USD) was declining 0.4% to $83,906, and the yield for 10-year US Treasuries was rising 2 basis points to 4.25%.

US economic growth will likely slow in line with the updated forecasts in the Summary of Economic Projections, New York Federal Reserve President John Williams said Friday at a conference. "I expect GDP [gross domestic product] growth this year to step down from last year's pace in part because of a slowdown in labor force growth due to lower immigration rates," Williams said.

In corporate news, Apollo Global Management ( APO ) and BP (BP) said Friday they reached an agreement for Apollo-managed funds to buy a 25% non-controlling stake in BP's 12% interest in a pipeline carrying natural gas from Azerbaijan through Turkey. Apollo shares were down 0.5%.

JPMorgan Chase's ( JPM ) asset management unit has exited the Net Zero Asset Managers Initiative, a company spokesperson told MT Newswires on Friday. Separately, JPMorgan ( JPM ) shifted the focus of its diversity, equity, and inclusion programs to "diversity, opportunity, and inclusion" to align with changing market and regulatory conditions, Reuters reported. JPMorgan ( JPM ) shares were rising 1%.

F&G Annuities & Life ( FG ) shares fell past 4% after it priced an offering of 8 million shares at $35 each.