BackRock's Fink: Market Undergoing `Old Fashioned Correction' -Bloomberg TV

U.S. markets are undergoing an "old-fashioned" correction and the Federal Reserve should have ample room to continue reducing its bond-buying program despite the recent volatility, BlackRock Inc. Chief Executive Laurence Fink said Wednesday.

"It's an old-fashioned correction," Mr. Fink said in an interview on Bloomberg Television. "We've come a long way and we just need to recalibrate ourselves." Long-term investors with BlackRock, he said, have not changed their behavior. The recent volatility in markets, he said, should not affect the central bank's decision to pare quantitative easing.

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