Market Selloff ‘Mostly Technical,’ Says BlackRock’s Despirito

Bloomberg Television
Bloomberg Television
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Published 2024-08-12
Tony Despirito, global CIO of fundamental equities at BlackRock, says the recent combination of concentration in Mag Seven stocks and low volatility is “absolutely abnormal,” but sees the underlying fundamentals for the market as “still very strong” as the US economy slows “in a good way.”

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