Why BlackRock's Stock Price Dropped 33.5% in the First Half

Asset management firm BlackRock (NYSE: BLK) watched its stock price tumble 33.5% in the first half of 2022, according to data from S&P Global Market Intelligence.

The worldʻs largest money manager trailed the S&P 500, which was down 21.6% year to date through June 30, and the Dow Jones Industrial Average, which fell 15.3% in the first half of the year.

With the broader stock market in bear market territory during the first half of 2022, a company that plies its trade in the market is not going to fare very well. As an asset manager, BlackRock manages money for institutional investors, and runs a portfolio of mutual funds and the iShares family of exchange-traded funds (ETFs).

Source Fool.com