US asset managers rise as Trump announces 90-day reciprocal tariffs pause

Icahn Enterprises LP

09/04/2025 19:09

Updates

 ** Shares of U.S. asset managers rise, reversing course after President Donald Trump said on Wednesday he authorized a 90-day pause on "reciprocal tariffs," effective immediately

** KKR KKR.N up 11.4%, Apollo APO.N up 11%, Janus Henderson JHG.N up 9.2%, Blackstone BX.N up 8.9%

** Invesco IVZ.N and Franklin Resources BEN.N up 7.6% each, AllianceBernstein AB.N up 7.3%, BlackRock BLK.N and Icahn Enterprises IEP.O up 7% each

** Charles Schwab SCHW.N up 5.6%

** Trump also raised the tariff rate for China to 125%, after China said it would impose 84% tariffs on U.S. goods from Thursday, up from the 34% previously announced

** Asset managers could see a drop in fees, which are 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

(Reporting by Ateev Bhandari in Bengaluru)

((ateev.bhandari@thomsonreuters.com))