US stock asset management companies’ share prices plunge as negative credit events intensify risk aversion

Gelonghui, March 6th｜US stock asset management companies and bank stocks plummeted on Friday, as a series of negative private credit events sparked new concerns in the market about the health of the industry. BlackRock fell more than 5%, Ares Management dropped 6.3%, KKR & Co Inc declined 6.3%, Blue Owl fell 6%, Blackstone dropped 5.6%, Apollo Global Management fell 5.5%, Jefferies Financial Group dropped more than 10%, and Western Alliance fell 13%. The KBW Bank Index fell more than 4%.