Larry Fink tells investors to expect a 'cascade of bankruptcies' - reports

52% of American small businesses expect to be bust within six months

James Baxter-Derrington
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BlackRock CEO Larry Fink
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BlackRock CEO Larry Fink

In a private call with clients of a wealth advisory firm, BlackRock CEO Larry Fink told investors "as bad as things have been for corporate America in recent weeks, they’re likely to get worse", Bloomberg has reported.

He pointed to conversations he had with bankers who said they expect a "cascade of bankruptcies" as the possibility of a corporate tax rise, consumer hesitation and offices operating on 50% staff are all on the table over the coming months. Trump pushes for reopening economy despite probable infection increase - reports This concern is supported by a new survey from the Society for Human Resource Management (SHRM), which found that 52% of American small businesses expect to be out of businesses within six months, while a further 14% are uncertain and a total 74% have seen revenues fal...

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