Blackrock CEO said Larry Fink that an additional 20% fall in the market is possible
Blackrock CEO Larry Fink said the market could see another 20% collapse, but the current drawdown is a chance to buy in the long run as the current situation does not bring systematic risk.
“I see it as a purchase opportunity than a sales opportunity, but that doesn’t mean we can’t go down anymore,” Fink said in a look at the Economic Club of New York on Monday.
He noted that inflationary pressure was higher than that of market participants and many believe that the US is in a backlash. As a result, he did not expect the Federal Reserve to cut interest rates this year.
Last month, Fink published a letter to shareholders, warning about the Bitcoin (BTC) threat (BTC) in the US dollar, which could weaken if Americans believe that cryptocurrency would be a safer owner than the dollar.
Markets, including the crypto market, are chaos because US President Donald Trump announced a host of tariffs on goods imported to the US BTC currently trading 5% less than the past five days and 11% less than last month. Stocks are that -hit even worse than the S&P 500 and NASDAQ down 13% and 15%, respectively.
