🔴 Blackstone Group is trading 4.02% down today as Treasury yields pressure financial stocks

Blackstone Group is trading 4.02% down now at $121.61 as investors react to the Federal Reserve’s 25-basis-point rate hike and guidance signaling another possible increase by December.

• Higher Treasury yields and fading rate-cut expectations are pressuring financial stocks; the financial sector is down 1.54%.
• Blackstone’s $8 billion private-credit fundraising plan is strategically positive but does not explain today’s decline.