Shares of banks and other financial institutions fell as fears about housing and private-credit markets offset deal activity.
Nuveen agreed to buy U.K. asset manager Schroders for $13.5 billion, bolstering its business in Europe with a storied London investment house that dates back more than two centuries.
Among private-credit firms, KKR and Blue Owl resumed a selloff after recent strength.
Upheaval in the software industry caused by artificial-intelligence advances "may also pressure private credit funds with concentrated exposure to software borrowers (in many cases over 30% of assets under management)," said Lorenzo Di Mattia, manager of hedge fund Sibilla Global Fund. Di Mattia is currently betting against regional banks.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-12-26 1724ET
