03:55 PM EDT, 03/13/2025 (MT Newswires) -- Financial stocks declined in late Thursday afternoon trading, with the NYSE Financial Index down 0.9% and the Financial Select Sector SPDR Fund (XLF) off 0.5%.

The Philadelphia Housing Index fell 2.1%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 1.9%.

Bitcoin (BTC-USD) fell 2.9% to $80,303, and the yield for 10-year US Treasuries dropped 5.4 basis points to 4.26%.

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. The print lagged behind the 0.3% growth estimate in a survey compiled by Bloomberg.

In corporate news, UBS (UBS) is considering selling a portion of its asset management division that is mostly focused on real estate investments, Reuters reported. UBS shares shed 0.5%.

CareTrust REIT's ( CTRE ) shares rose 2.8% after Deutsche Bank upgraded the company's stock to buy from hold and raised its price target to $31 from $27.

State Street (STT) will continue to manage a 46 billion-franc ($52 billion) Swiss pension fund after legislators rejected a bid to remove the company and reassert domestic control, according to media reports. State Street shares were down 1.8%.

Wells Fargo's ( WFC ) efforts to improve profitability and satisfy regulatory issues make it an attractive buying opportunity, ahead of an expected lifting of a regulatory order that caps its asset growth, RBC Capital Markets said Thursday. RBC upgraded the bank to outperform from sector perform and reiterated an $80 price target. Wells Fargo ( WFC ) shares were down 0.6%.