🔴 BLK is trading 4.1% down amid a U.S. probe into its private credit fund valuations

Shares of BlackRock (BLK) are trading down 4.1% at $1,041.68, driven primarily by newly emerged negative company-specific catalysts that overshadowed general market trends.

• The drop appears to be driven by news of a U.S. Attorney's Office investigation into the valuation practices of its private credit fund, TCP Capital Corp.
• Sentiment may also be weighed down by reports of large redemptions from U.S. spot bitcoin ETFs, with BlackRock's iShares Bitcoin Trust (IBIT) seeing outflows of roughly $448 million in a recent session.
• The move is amplified by a broader market selloff, as rising bond yields and inflation concerns pressure equities.