Larry Fink says globalization is over — Here’s what it means for markets
BlackRock founder Larry Fink declared that the Russia-Ukraine war is bringing the era of globalization to an end, but investors should keep in mind that the global economy and the financial system can’t turn on a dime, analysts say.
So what is Fink, one of the founders of the world’s largest investment management firm, Blackrock BLK , with $10 trillion under management, talking about when he talks about the end of globalization? Sanctions imposed by the U.S., E.U. and allies have largely expelled Russia from the global financial system while numerous Western companies have left or suspended operations in the country as punishment for its invasion of Ukraine. The “economic war” shows what can be achieved when companies, supported by their stakeholders, unite in response to violence and aggression, Fink said.
In the short run, the simplest trade this year has been to look at areas that have seen underinvestment for years, including energy and other materials and infrastructure, he said. U.S. stocks overall have stumbled to start 2022, but have bounced back from the lows. The S&P 500 SPX rose 1.8% over the past week, while the Dow Jones Industrial Average DJIA eked out a 0.1% rise and the Nasdaq Composite COMP advanced 2%. It was the second consecutive weekly gain for the major indexes.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
BlackRock’s Larry Fink says Ukraine war is putting an end to decades of globalization.BlackRock CEO Larry Fink said the war in Ukraine is heralding the end to three decades of increasing globalization.
Lire la suite »
BlackRock's Larry Fink says Ukraine war 'put an end' to globalizationBlackRock CEO Larry Fink says Russia's invasion of Ukraine 'has put an end to the globalization we have experienced over the last three decades.'
Lire la suite »
BlackRock's Larry Fink says Ukraine war could spur digital currenciesAccording to the Chairman and CEO of BlackRock Larry Fink, the war in Ukraine could accelerate digital currencies.
Lire la suite »
Russia-Ukraine war could accelerate use of digital currencies, Blackrock's Larry Fink saysThe Russia-Ukraine war could accelerate the use of digital currencies, Larry Fink, chairman of the world’s largest asset manager BlackRock, said Thursday.
Lire la suite »
Larry Stewart: From farm boy to star sports radio-TV columnistHow Stewart rose from “suckering” lemon trees in Strathmore – his worst job ever, removing thorny sucker growths from citrus trees – to the top of his sportswriting profession is contai…
Lire la suite »
Larry Ellison’s SailGP and NEAR Protocol to Create a DAO for Sports Team OwnershipMembers of the decentralized autonomous organization will be able to determine athlete selection, team management and team strategy.
Lire la suite »