Blackstone Inc. experienced pronounced downward pressure and elevated intraday volatility during today’s trading session. A primary catalyst behind the negative price action is the intensifying stress in the commercial real estate sector, brought to the forefront by reports that a major loan tied to a Chicago skyscraper has defaulted. The property’s owner defaulted on a multi-hundred-million-dollar loan originated by Blackstone Mortgage Trust upon reaching its maturity deadline. While the underlying mortgage trust notes that the asset represents a small fraction of its overall portfolio, the default served as a stark reminder of the ongoing struggles in office real estate and asset-quality deterioration. This development dragged the…