Financial stocks were in the red in Monday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each falling 2.5%.
The Philadelphia Housing Index was down 0.1%, while the Real Estate Select Sector SPDR Fund (XLRE) shed 0.4%.
Bitcoin (BTC-USD) was declining 4.2% to $78,914, and the yield for 10-year US Treasuries was dropping 9.3 basis points to 4.23%.
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, Rocket (RKT) said Monday that it will buy real-estate brokerage Redfin (RDFN) for an equity value of $1.75 billion in a deal that's expected to drive users to Rocket's home-lending business. Rocket shares fell past 16%, while Redfin surged more than 65%.
Robinhood Markets (HOOD) shares dropped 17% in recent Monday trading after the Financial Industry Regulatory Authority said Friday the company has been 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 0.2%.
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