Blackrock Inc. (BLK)

BlackRock, Inc. Stock (BLK) dropped by 1.34% from $636.17 to $627.66 in the trading on Friday October 13, 2023. The reason why BLK stock down today is due to a drop in net inflows last quarter. BlackRock Inc. clients pulled a net $13 billion from long-term investment funds, the first outflows since the onset of the pandemic in 2020. The redemptions are a sign that investors have preferred to keep cash on hand in money-market funds or in certain bond strategies while interest rates remain elevated.