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BREAKING: BlackRock (BLK) tumbles over 7%, pushing its market cap below $150,000,000,000 after writing down a $25 million loan to zero, fueling concerns about defaults in the private credit sector.
BlackRock's lending arm wrote down a $25 million loan, igniting fears about defaults in the private credit sector and negatively affecting investor sentiment. The financial services sector dropped 2.22%, but BlackRock's decline was more pronounced due to specific concerns about its loan portfolio.
#FebNonfarmPayrollsUnexpectedlyFall