Shares of banks and other financial institutions ticked down as private-credit fears percolated.
Blue Owl shares tested multiyear lows amid fears about the value and quality of its pooled loans to software firms and other corporations.
Shares of Canadian subprime lender Goeasy fell by more than half after it suspended its dividend and warned of surging loan losses.
"Credit is the oxygen of the economy," said Lorenzo Di Mattia, manager of hedge fund Sibilla Global Fund. "While timing a 'breaking point' is notoriously difficult, a rapid deterioration in credit should never be ignored."
Billionaire investor Bill Ackman filed to take public his hedge-fund firm, Pershing Square, in tandem with a new closed-end investment fund, a bold bet to capitalize on his social-media fame.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-10-26 1800ET
