BlackRock’s Fink ‘bearish’ on emerging markets

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Sun, 2020-10-18 00:19

NEW YORK: BlackRock CEO Larry Fink said that he believes emerging markets are on a downward slide as he sees strong macro trends weighing on the asset class.

“I am pretty bearish on the emerging world,” Fink said at an online event hosted by the Institute of International Finance.

He said the COVID-19 pandemic is taxing emerging economies and their health systems more than developed countries, deglobalization is hurting the commodity-dependent countries and the group is more sensitive to effects of climate change.

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