US Stock Market Movement | Bank stocks and asset management giants decline, BlackRock (BLK.US) continues to fall by 2.2%

BlackRock announced last Friday that it would limit the redemption ratio of its $26 billion HPS Corporate Lending Fund to 5%, while the amount investors had previously requested to redeem was nearly twice that proportion. This marks the first time since market tensions began that a major private credit manager has imposed redemption restrictions on a perpetual fund.