9 0

NEW YORK (Reuters) - BlackRock CEO Larry Fink said on Friday he believes emerging markets are on a downward slide as he sees strong macro trends weighing on the asset class. Slideshow ( 2 images ). “I am pretty bearish on the emerging world,” Fink said at an online event hosted by the Institute of International Finance. He said the COVID-19 pandemic is taxing emerging economies and their health systems more than developed countries, de-globalization is hurting the commodity-dependent countries and the group is more sensitive to effects of climate change. “When we talk about climate change, and we think that’s a big issue and a reallocation of capital,” Fink said, “part of that reallocation of capital is movement out of the emerging world.” Full story

17 October