Private equity is sitting on $5 trillion of existential dread

It was a bad night for the big dogs of global private capital.

Apollo Global Management stock sank 5.4 per cent and KKR fell 6.3 per cent. Private capital player Blue Owl tumbled more than 7 per cent, as did Ares. Carlyle lost 4.7 per cent, while Blackstone was off 3.7 per cent.