Most publicly traded money management firms saw their stock prices fall further than the 2.74% drop Monday in the S&P 500 index, according to data from Bloomberg.
Only shares of Och-Ziff Capital Management Group were in positive territory, rising 2.42%. Two firms, Apollo Global Management and Janus Henderson Group were nearly flat on the day — down 0.06% and 0.07%, respectively.
The managers hit hardest on what represented the worst day for U.S. equity markets in 2019 so far, included Ares Management Corp., down 6.62% and Victory Capital Holdings, down 6.6% at the close.
The sell-off followed several days of escalation in the growing trade war between the U.S. and China.