Financial stocks fell late Monday afternoon trading with the NYSE Financial Index declining 2.5% and the Financial Select Sector SPDR Fund (XLF) dropping 2.4%.

The Philadelphia Housing Index lost 0.6%, while the Real Estate Select Sector SPDR Fund (XLRE) shed 0.7%.

Bitcoin (BTC-USD) fell 2.2% to $78,929, and the yield for 10-year US Treasuries dropped 10 basis points to 4.21%.

In economic news, median inflation expectations increased by 0.1 percentage point at the one-year horizon to 3.1% in February, according to the Federal Reserve Bank of New York.

In corporate news, Wells Fargo (WFC) sued JPMorgan Chase (JPM) in an effort to recover investor losses stemming from a $481 million commercial real estate loan, alleging it was based on a fraudulent financial metric, Reuters reported. Wells Fargo shares fell 6.7% and JPMorgan dropped 4.3%.

Rocket (RKT) agreed to buy real-estate brokerage Redfin (RDFN) for $1.75 billion in stock. Rocket shares fell 16%, and Redfin surged 68%.

Robinhood Markets (HOOD) shares dropped 19% after the Financial Industry Regulatory Authority ordered to pay $3.75 million in restitution to customers and $26 million in fines for violating numerous FINRA rules.

Allstate's (ALL) National General unit is being sued by New York state for failing to report a data breach that exposed license numbers and for lacking adequate security measures to protect drivers' private information, Reuters reported. Allstate shares shed 0.1%.