Fink Warns of Recession Amid Trump Tariffs

BlackRock CEO Larry Fink expressed shock at the breadth of President Trump's recent tariffs, describing them as unprecedented in his nearly five decades in finance. The tariffs, including a 145% levy on Chinese imports, have triggered significant market volatility, with the S&P 500 experiencing its steepest two-day drop since the COVID-19 pandemic. Despite a temporary 90-day pause on some tariffs, uncertainty remains high, and Fink warns that the US economy might already be in a recession. While Fink is concerned about short-term economic risks, he points out that there are long-term investment opportunities in artificial intelligence and infrastructure. BlackRock reported better-than-expected first-quarter results, indicating resilience amidst the economic turbulence. Fink remains optimistic about the long-term capital market outlook despite the challenges posed by current trade policies.