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BlackRock's Fink sees another 10% drop in markets before rebound

[BOSTON] BlackRock Inc's Laurence D Fink said stock markets will probably decline another 10 per cent before turning around and ending the year higher.

There's "not enough blood" in the markets yet for a quick rebound, Fink, the chief executive officer of New York-based BlackRock, said Friday in an interview on CNBC, after the world's largest money manager reported a 5.9 per cent increase in fourth-quarter earnings. He said oil would test $24 a barrel.

BLOOMBERG