BlackRock CEO Larry Fink suggests that another 20% stock market drop could come amid the current economic decline. While Fink says he sees the current dip as a potential “buying opportunity,” he also “won’t rule out” further market decline in the coming weeks.
JUST IN: BlackRock CEO Larry Fink says he won't rule out another 20% market drop.
— Watcher.Guru (@WatcherGuru) April 7, 2025
Speaking on BloombergTV, the BlackRock CEO talked about the current state of the US economy and stock market. Over the past week, the majority of the market is in the red amid uncertainty around Donald Trump’s recent tariffs announcement. The unrest poured into both the stock and crypto markets, with most assets losing significant value. While many investors worry that the drop could get worse, Fink notes that this may be true, but it could also be a buying opportunity. “I see it more as a buying opportunity than a selling opportunity, but that doesn’t mean we can’t go down further,” he told Bloomberg.
Fink Says US Could Already Be In A Recession
Additionally, BlackRock CEO Larry Fink suggested that the United States could already be in a recession. “Most CEOs I talk to say we’re in a recession right now,” Fink said in his interview with BloombergTV. 69% of CEOs surveyed by CNBC said they expect a recession on the heels of Trump’s sweeping, market-rupturing tariff plans announced last week. More than half of them said they expect that the downturn will come this year. “This is the Trump recession,” said one of the 22 CEOs who received the flash survey.
JUST IN: BlackRock CEO Larry Fink says "we are probably in a recession right now."
— Watcher.Guru (@WatcherGuru) April 7, 2025
JPMorgan CEO Jamie Dimon shares a similar sentiment to Larry Fink, suggesting that things can get worse before they get better. Dimon warned that Trump’s newly announced tariff policies could hamper an already weakening U.S. economy, boosting prices on all kinds of goods and also slowing economic growth as US economic slowdown signs are already emerging at this very moment. “Whatever you think of the legitimate reasons for the newly announced tariffs – and, of course, there are some – or the long-term effect, good or bad, there are likely to be important short-term effects.”
Also Read: US President Trump Threatens Additional 50% Tariffs on China
Furthermore, Goldman Sachs raised the odds of a U.S. recession to 45% from 35%, the second time it has increased its forecast in a week. Goldman Sachs raised its estimate from 20% to 35% early last week on fears that U.S. President Donald Trump’s planned tariffs would roil the global economy. Now, with Trump threatening further Tariffs, there is even more economic uncertainty among experts.