HGTY - Rocket Mortgage Ares Management among week's biggest financial decliners

In the week that the Federal Reserve made its biggest rate hike in almost 30 years, two mortgage companies and two large private equity firms are among the financial stocks that declined the most. Shares in Rocket Companies (RKT), which runs Rocket Mortgage, fell the most in the week ended June 17, dropping 19%. Note that earlier this month, the SA Quant rating warned that the stock was at risk of performing poorly; Ares Management (ARES) stock dropped 17% as private equity firm stocks came under pressure in the wake of the Fed's 75-basis point rate hike;  UWM Holdings (UWMC), which operates as United Wholesale Mortgage, was another victim of rising interest rates. Its stock fell 16% in the week;  Blackstone (BX), the world's largest private equity company, saw its stock slide 16%; and Cohen & Steers Infrastructure Fund (UTF) dropped 16%, as well. Two Chinese companies were among the five biggest financial gainers,

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Rocket Mortgage, Ares Management among week's biggest financial decliners