Don't be fooled by the bounce, BlackRock CEO Fink warns of another 20% market slide as recession fears mount
[hfe_template id='11223']
[ad_1]
Despite a modest rebound in global equities, BlackRock CEO Larry Fink has warned that the market rout may be far from over, with the potential for another 20% plunge if recession fears in the U.S. intensify. “Most CEOs I talk to would say we are probably in a recession right now,” Fink said Monday at the Economic Club of New York, according to Reuters. He blamed steep U.S. tariffs for driving up prices and adding to inflationary pressures, further dampening sentiment across markets. While global equities staged a recovery on Tuesday, Fink cautioned that the worst may not be over. “That doesn’t mean we can’t fall another 20% from here too,” he said. On Tuesday, U.S. S&P 500 futures rose 0.9% after the benchmark index ended a volatile Monday session with a 0.2% loss. Wall Street swung between steep losses and sharp gains as investors reacted to conflicting signals on trade. A report suggesting President Donald Trump was considering a 90...