ARK Invest’s Wood warns upcoming economic downturn in China ‘obvious’ – Reuters
- Date: 13-Oct-2021
- Source: Reuters
- Sector:Economy
- Country:Middle East
ARK Invest’s Wood warns upcoming economic downturn in China ‘obvious’ – Reuters
FILE PHOTO: Cathie Wood, founder and CEO of ARK Investment Management LLC, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 13, 2021. REUTERS/Brendan McDermid/File Photo
NEW YORK (Reuters) - An economic slowdown in China could ripple through the global economy and weigh on commodity prices and growth, star stock picker Cathie Wood of ARK Invest warned in a webinar on Tuesday.
Wood, whose flagship $19.7 billion Ark Innovation fund was the top-performing U.S. equity fund in 2020, said that China’s recent steps to crack down on sectors ranging from gaming to education to financial firms are increasing the likelihood of a policy mistake that leads to a sharp slowdown.
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