Larry Fink, CEO of BlackRock, warned that stocks could drop another 20% due to the U.S.'s aggressive tariff policies, which began with a 10% tariff on all imports imposed by President Donald Trump. This move has triggered retaliatory actions from both China and the European Union, raising fears of a global trade war. Fink noted that many executives believe the U.S. is already in a recession, with the S&P 500 and Nasdaq Composite indices experiencing a 10% drop within five days. Despite the downturn, Fink suggested the turbulence might present a buying opportunity rather than a cause for panic, asserting that it does not signal systemic risks. He acknowledged, however, that further declines in the market are possible. In conjunction with these comments, financial institutions have adjusted their recession forecasts, now estimating a 45% chance by Goldman Sachs and 60% by JPMorgan. The cryptocurrency market is also experiencing losses, with significant dips in Bitcoin and Ethereum prices, indicating the broader impact of tariff-related fears on both traditional and digital markets.

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