Credit-scoring firms faced a sharp sell-off after housing regulator Bill Pulte ordered Fannie Mae and Freddie Mac to integrate the VantageScore system. This directive forces a direct competition with the established FICO score, signaling potential disruption for market incumbents Equifax and Fair Isaac. Investors reacted swiftly to the news, driving shares of both companies lower as the implications for their market share became clear.

Beyond domestic regulatory shifts, institutional moves signaled a broader reallocation of capital. Norway’s $2.4 trillion sovereign-wealth fund announced plans to reduce its government bond holdings in favor of higher-yield, riskier debt. This pivot, designed to bolster long-term returns, could strip roughly $80 billion from the fund’s U.S. Treasury portfolio. Meanwhile, in the insurance sector, EQT confirmed a $2 billion deal to acquire a majority stake in London-based broker McGill and Partners from Warburg Pincus, highlighting continued consolidation activity despite the wider market volatility.