By Elias Schisgall
Shares of Blackstone retreated after President Trump said he would try to bar institutional investors from buying single-family homes.
Blackstone's stock slid 7.3% to $151.00 early Wednesday afternoon.
Trump wrote on Truth Social that he will be "immediately taking steps to ban large institutional investors from buying more single-family homes," adding that he would seek to have Congress pass a law codifying the initiative.
He did not provide more details but said he would discuss the idea at Davos later this month.
Write to Elias Schisgall at elias.schisgall@wsj.com
Corrections & Amplifications
This article was corrected at 2:46 p.m. ET to show that BlackRock doesn't buy single-family homes. The original version incorrectly implied in the headline and story that the company bought single-family homes.
(END) Dow Jones Newswires
01-07-26 1327ET
