** Shares of U.S. asset managers fall in premarket trading after U.S. President Donald Trump announced tariffs
** Trump said on Wednesday he would impose a 10% baseline tariff on all imports to the U.S. and higher reciprocal duties on some of the country's biggest trading partners, including China
** Apollo APO.N down 6.4%, Blackstone BX.N falls 4.5%, BlackRock BLK.N drops 4.3%, and Charles Schwab SCHW.N slips 4%
** Asset managers could see a drop in fees, which is often tied to the value of assets under management, if trade war fears, economic uncertainty and inflationary pressures from tariffs cause an elongated downturn in the markets
** "After a strong finish to 2024, the escalating trade war and federal spending cuts have increased the risk of stagflation," say Bank of America analysts in a note
** Brokerage says asset managers see risk from flows and beta if the US equity market correction were to deepen
(Reporting by Ateev Bhandari in Bengaluru)
((Ateev.Bhandari@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.