Larry Fink, the CEO of BlackRock, highlighted concerns among business leaders that the US economy could be entering a recession due to new trade tariffs imposed by the Trump administration. He noted that many CEOs believe the economy is already in contraction, exacerbated by panic in the stock market. Although Fink sees current market weakness as a buying opportunity long-term, he cautioned that the market could still decline by another 20%. Surveys show a significant number of execs predict an imminent recession, indicating widespread anxiety over economic prospects.
stock markets could extend their decline by 20% as the US imposes steep tariffs, citing worries across Wall Street that the economy is probably already in contraction.
We are probably in a recession right now," Fink, who heads the world's largest asset manager, stated bluntly during an event at the Economic Club of New York.
most anticipate the recession to be moderate or mild, their lack of confidence is evident from the significant decline in investment and consumer spending.
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