Dow, S&P 500, Nasdaq whipsaw as bond yields surge, China-US commerce struggle in focus

BlackRock CEO Larry Fink advised CNBC on Friday that the US economic system may already be in a recession.

“I believe we’re very shut [to], if not in, a recession now,” Fink advised “Squawk on the Avenue.”

The Trump administration’s tariff coverage has sparked fears of a recession. Trump’s 90-day pause on some 75 international locations introduced earlier this week eased a few of these issues, however the escalating commerce struggle between China and the US has not.

“I believe you’re going to see, throughout the board, only a slowdown till there’s extra certainty. And we now have a 90-day pause on the reciprocal tariffs — meaning longer, extra elevated uncertainty,” Fink stated.