US asset managers rise as markets rebound after three days of tariff-turmoil

Icahn Enterprises LP

08/04/2025 14:08

** Shares of U.S. asset managers rise premarket, signaling a rebound after three sessions of tariff-related turmoil

** Investors keenly await any sign of the U.S. opening up for negotiations over its tariffs, especially as China has refused to bow to what it has called "blackmail"

** Asset managers could see a drop in fees, if there is a prolonged decline in the markets due to the trade war and the resulting economic uncertainty and inflationary pressures

** KKR KKR.N rises 5.9%, Icahn Enterprises IEP.O up 5.6%, BlackRock BLK.N up 5.2%, and Blackstone BX.N up 4.5%,

** Apollo APO.N up 3.9% and Charles Schwab SCHW.N rises 3%

** "Negative beta combined with elevated market uncertainty and volatility have quickly become a headwind," said Jefferies analysts in a note

(Reporting by Ateev Bhandari in Bengaluru)

((ateev.bhandari@thomsonreuters.com))