Blackrock CEO Fink warns of 'dark shadows' in global markets

The chief executive officer of the world's largest money manager Blackrock has warned that there are "dark shadows" ahead in global financial markets.

Larry Fink was speaking at the Yahoo Finance All Markets Summit, and cited the "breakdown of globalisation" following Brexit and Donald Trump's victory in the US presidential election.

Trump previously heaped praise on Fink and his company, but the Blackrock boss was not so complimentary about the President's potential impact on markets in the near future.

US markets have reached for record highs since Trump defeated Hillary Clinton in last November's election, with the Dow Jones Industrial Average surpassing the 20,000 for the first time in addition to further record highs for the S&P 500 and the Nasdaq.

"I think markets are ahead of themselves," Fink warned, adding that he sees "a lot of dark shadows" that could rattle global markets.

"Most business people are not investing today. They're waiting to see what may happen. I believe we're in the midst of a slowdown as we speak because of all the uncertainty," Fink added.

Trump has shaken up global trade by withdrawing the US from the TPP and signing an executive order to renegotiate NAFTA, two of the country's biggest trade agreements.

He has also promised to slap huge import tariffs on products coming from China, sparking fears that a global trade war would follow.

The Blackrock CEO said that he believed that "we are living in a bipolar world right now."

Blackrock is the world's largest asset manager, controlling over $5trn in financial assets globally.