Blackrock Fink said the stocks of stock could continue in the midst of the recession, the fears of commercial war

Blackrock Larry Fink CEO Said that the stock market could see in another 20% amid the uncertainty about the tariffs of President Donald Trump and that the CEOs tell him that they believe that the economy of the United States is probably already in a recession.

“Most of the CEO with whom I speak would say that we are Probably in a recession At this time, “Fink told the New York Economic Club on Monday. Tariffs are expected to make a wide variety of more expensive products, exacerbating inflationary pressures that have been persistent in recent months.

Despite the agitation in the market, Fink said that weakness creates a long -term purchase opportunity despite the potential of additional decreases.

“I would say that in the long run, this is more a purchase opportunity than a sales opportunity. That does not mean that we cannot fall another 20% from here too,” Fink said.

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The Blackrock CEO, Larry Fink, said the CEO that speaks thinks that the United States has already entered a recession. (Hollie Adams / Bloomberg through Getty Images / Getty Images)

“The economy is weakening as we talk,” Fink said, adding that he sees that the economy slows down even more in the coming months with Inflation is likely to be high.

Given your concerns about inflation, Fink said he sees no possibility that Federal Reserve It will reduce interest rates four or five times this year due to inflation prospects, which could be more challenging as tariffs enter into force and foreign governments retaliate.

The Trump Rate announcement on April 2 caused markets to submerge In the following days, with the Dow Jones Industrial Avenge, S&P 500 and Nasdaq Composite, more than 9% was reduced in the last five days of negotiation and more than 10% in the last month.

Goldman Sachs increases the probability of recession, warns about a greater reduction if they enter into force more rates

Blackrock made an attempt to buy two ports on the Panama Canal of a company based in Hong Kong. (Justin Sullivan / Getty images / getty images)

Fink also argued Blackrock offer Buy a couple of ports on the Panama Canal along with dozens of other global ports of the CK Hutchison firm with Hong Kong headquarters.

He said that the agreement faces nine more months of regulatory review of the Chinese government, which has been critical of the transaction, which would see Blackrock acquire the ports of Balboa and Cristóbal in the Panama Canal plus 43 ports in other 23 countries.

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The agreement is valued at $ 22.8 billion, and companies have emphasized that the agreement was purely commercial in the midst of geopolitical concerns about China investments in facilities around the Panama Canal.

Reuters contributed to this report.