Shares of Blackstone Group LP (BX) tumbled 5% in pre-market trading on Thursday, as investors grappled with mounting uncertainties surrounding the potential TikTok deal and faced a lowered price target from Goldman Sachs. The private equity giant, which has been in the running as a potential U.S. investor in TikTok's American operations, is facing increased pressure as the situation around the Chinese-owned social media platform grows more complex.

The sharp decline in Blackstone's stock price comes amid reports that e-commerce behemoth Amazon.com Inc. has joined the bidding war for TikTok's U.S. assets, intensifying competition for the deal. This unexpected development, coupled with the approaching deadline for TikTok's U.S. operations, has seemingly rattled investors. A 75-day reprieve from enforcing a bipartisan law aimed at banning TikTok nationwide is set to expire on Saturday, adding to the urgency of the situation.

Adding to the downward pressure, Goldman Sachs adjusted its price target on Blackstone to $153 from $160, while maintaining a neutral rating. Analysts suggest that the most likely scenario is an extension of the deadline to allow more time for finalizing a deal structure. However, the uncertainty surrounding the outcome and the potential risks associated with the transaction appear to be weighing heavily on Blackstone's stock. Investors may be concerned about the regulatory hurdles, geopolitical tensions between the U.S. and China, and the complex nature of the negotiations.