Blackrock's Fink says Biden will be 'Voice of Reason' markets need

BlackRock Inc CEO Larry Fink said Joe Biden’s victory in the US presidential election should encourage investors, who want stability and an easing of geopolitical tensions.
“They’re looking for a voice that moderates, not a voice that incites,” Fink said at a Bloomberg New Economy Forum event broadcast on Nov 19 in Hong Kong. “President-elect Biden can be that voice of reason.”

The S&P 500 rose 1.2% in the first trading session after Biden was declared the winner of the election. In his acceptance speech, he pledged to unite and heal a country ravaged by the Covid-19 pandemic and partisan hostility.

“The marketplace is encouraged by having a leader now that is more inclusive, a leader that could probably bring a little more global harmony,” said Fink, 68.
BlackRock, the world’s largest asset manager, oversees more than US$7.8 trillion.