New York, Feb 5, 2026, 21:23 EST — Market closed.
- Blackstone shares fell 5.7% on Thursday, with trading volume running well above average.
- A tech-led selloff and fresh AI-related volatility set the tone across risk assets.
- Key dates ahead include Blackstone’s dividend record date on Feb. 9 and the delayed U.S. jobs report on Feb. 11.
Blackstone Inc (BX) shares fell 5.73% on Thursday to close at $126.83, leaving the stock about a third below its 52-week high. Trading volume rose to about 12.8 million shares, far above the 50-day average of roughly 4.1 million, after the stock hit an intraday low of $125.35. (MarketWatch)
The drop came as Wall Street ended sharply lower in a tech-led selloff, with investors again questioning how quickly heavy spending on artificial intelligence turns into profits. SimCorp’s Melissa Brown said “the AI trade … is perhaps the extinguisher this year,” after the S&P 500 fell 1.23% and the Nasdaq slid 1.59%. (Reuters)
That matters for Blackstone because the firm lives on fee growth and exits, and both tend to slow when markets are choppy. The economic calendar has also been thrown off: the Labor Department shifted the January employment report to Feb. 11 after a three-day government shutdown and moved the January CPI report to Feb. 13. (Reuters)
Thursday’s U.S. data added to the unsettled backdrop. Initial jobless claims jumped 22,000 to 231,000, and job openings fell by 386,000 to 6.542 million in December, Reuters reported. “More than anything, we see the data as reflective of ongoing judicious hiring practices,” said Oren Klachkin, financial markets economist at Nationwide. (Reuters)
For listed alternative managers, the larger worry has been whether the AI shock hitting public software shares bleeds into private portfolios. Reuters Breakingviews said buyout firms and direct lenders have spent years piling into software companies, leaving private equity and private credit — loans made outside banks and often held in funds — vulnerable if valuation multiples keep falling. UBS analysts estimate private-credit default rates could jump by up to 8.5 percentage points in a rapid AI-disruption scenario, the column said. (Reuters)
Blackstone was not alone. Shares of KKR fell 5.35% on Thursday, while Morgan Stanley and Goldman Sachs also ended lower, MarketWatch data showed. (MarketWatch)
Away from the stock move, Blackstone picked up a deal milestone in India. The Reserve Bank of India approved Blackstone’s plan to acquire up to a 9.99% stake in Federal Bank, a transaction that would make Blackstone the lender’s largest shareholder, after the firm agreed in October to invest around $700 million. (Reuters)
Investors are also still digesting the firm’s quarterly results from last week. Blackstone said assets under management rose 13% to $1.27 trillion and distributable earnings — a cash measure it uses to help set dividends — were $1.75 per share in the December quarter. CEO Stephen Schwarzman called AI-related infrastructure investment “the key driver of economic growth today.” (Reuters)
The dividend calendar now sits close to the tape. Blackstone set Feb. 9 as the record date for its $1.49 quarterly dividend, with payment due Feb. 17, according to the company’s investor site. (Blackstone)
But the risk case has sharpened as the stock slides: if the software-led rout deepens and credit markets start to price in higher losses, exits can stall and performance fees may take longer to show up — even for the biggest platforms.
The next major macro catalyst is the delayed U.S. employment report for January, scheduled for 8:30 a.m. ET on Feb. 11. (Bureau of Labor Statistics)
