Axos Financial Slumps on Private Credit Concerns After $126.4M Write-Off
Axos Financial shares slid after a sector sell-off driven by private credit jitters following Western Alliance's $126.4 million loan write-off and BlackRock marking a private loan to zero. Axos stock has registered nine 5%+ moves over the past year, is down 2.7% YTD and trades 15.8% below its 52-week high.
1. Sector Sell-Off Over Private Credit Exposure
Financial shares fell in afternoon trading as investors grew wary of the opaque private credit market, fearing undisclosed losses could hit bank balance sheets.
2. Major Private Loan Losses Raise Alarm
Western Alliance recorded a $126.4 million loan write-off after a Jefferies-led counterparty defaulted on payment terms, and BlackRock slashed a private loan’s value to zero, fueling sector-wide risk concerns.
3. Axos Financial's Share Movement and Metrics
Axos Financial’s shares declined in line with peers, marking one of just nine 5%+ moves in the past year. The stock is down 2.7% YTD and trades 15.8% below its 52-week high.