Larry Fink: Don't rule out another 20% market drop, but see it as a long-term buying opportunity

BlackRock CEO Larry Fink, during an interview with Bloomberg reporter Erik Schatzker at the New York Economic Club, did not rule out the possibility of another 20% market decline but viewed it as a long-term buying opportunity. He noted that his current communication frequency with clients is the highest since March 2020, and despite significant market volatility, the overall situation is "still acceptable". Fink believes the United States is transforming from a global stabilizing force to an unstable factor, and he is concerned that high inflation might force the Federal Reserve to further raise interest rates, questioning the likelihood of multiple rate cuts this year. He also mentioned that most corporate executives he has spoken with believe the United States is already in a recession.