Current valuations don't reflect soaring numbers of coronavirus cases, lasting damage to small businesses, and continued pressure on corporate earnings, Fink said during a virtual panel of the World Goverment Summit.
"The market is probably a little ahead of itself at this time," the billionaire boss of the world's largest asset manager said.Investors are shrugging off a resurgence of coronavirus cases and underestimating the pandemic's financial fallout, BlackRock CEO Larry Fink said on Thursday,"The world is accepting higher infection rates," the billionaire boss of the $7 trillion asset manager said on a virtual panel of the World Government Summit.
"Yesterday we had the highest infection rate in the world and markets are still pretty stable," he continued, referring to the record 36,000 new COVID-19 cases
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