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Investors should brace for three or four months of jittery markets due to uncertainty over support for Spain and the looming “fiscal cliff” threatening the United States economy, BlackRock Chief Executive Laurence Fink said in an interview on Saturday.
Fink, head of the world’s largest money manager overseeing $3.6 trillion in assets, said he was still bullish on U.S. equities but warned that the stock market could lose 5 to 10 percent in a correction in the final months of the year.
“The next three to four months we are going to probably have greater uncertainty and the market may test itself one more time,” Fink told Reuters during a trip to Tokyo, host to this week’s semiannual meeting of the International Monetary Fund.
http://www.reuters.com/article/2012/10/13/us-blackrock-fink-idUSBRE89C0AG20121013
