Fink expressed this view during a recent appearance at the Economic Club of New York, noting, "I see it more as a buying opportunity than a selling opportunity, but that doesn’t mean we can’t go down further."
In a letter to shareholders last month, Fink also warned about Bitcoin’s (BTC) potential impact on the U.S. dollar, suggesting that the dollar could weaken if Americans start viewing the cryptocurrency as a safer asset.
Since President Donald Trump’s announcement of new tariffs on U.S. imports, markets, including the crypto sector, have faced significant turmoil. Bitcoin has fallen 5% over the past five days and 11% in the last month. The S&P 500 and Nasdaq have dropped 13% and 15%, respectively.
Fink further highlighted that inflationary pressures are stronger than many market participants anticipate and noted that there is already a widespread belief that the U.S. is in a recession. Consequently, he doesn’t expect the Federal Reserve to reduce interest rates this year.
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