Blackstone Group LP (BX) saw its shares plummet 7.52% during intraday trading on Wednesday, reflecting significant market reaction to a policy announcement.

The decline followed President Trump's statement on Truth Social that he would seek to ban large institutional investors, including Blackstone, from purchasing single-family homes. Trump indicated he would push for congressional action to codify the initiative, sparking concerns over the potential impact on Blackstone's real estate investment business. The announcement was made ahead of his planned discussion at Davos later this month.