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BlackRock assets hit record but Fink warns of market anxiety

BlackRock's assets increased to a record high value in the first quarter, but the CEO of the world's largest asset manager said anxiety was dominating markets, even if the recent selloff did not pose risks to financial stability. That rise came despite broader weakening in U.S. stocks in the first quarter, as market optimism over U.S. President Donald Trump's return to the White House was followed by economic uncertainty caused by announcements of large U.S. tariffs on trade partners. "Uncertainty and anxiety about the future of the markets and the economy are dominating each and every client conversation," BlackRock's CEO and Chairman Larry Fink said.

OPEC output hikes, trade wars have US oil producers wary of 'drill baby drill'

President Donald Trump moved on his first day in office to increase U.S. oil and gas production, but the country's oil industry is actually starting to think about cutting output and jobs due to a double whammy of higher crude output from OPEC and on-again, off-again tariffs that have dented demand. The U.S. is the world's largest oil producer, pumping some 13.55 million barrels per day, employing millions of workers and generating trillions of dollars annually. Trump campaigned on the motto of "drill baby drill," and the national energy emergency he declared on his first day of office was designed to make it easier for companies to increase production, while he instructed officials to do everything they could to bolster the industry.

Analysis-Market distress could see trillions of dollar holdings seek currency protection

SINGAPORE (Reuters) -As Donald Trump's grand plan to redefine global trade whipsaws the U.S. dollar, investors who hold tens of trillions' worth assets in the currency may for the first time in decades be seeking ways to protect the value of those holdings. Such has been the unquestionable faith in the dollar for years that just a fraction of the $33 trillion of global money invested in U.S. markets is protected, or hedged in market parlance, for currency volatility. That may have changed this week as the dollar and U.S. Treasuries - both historically first among equals as refuges during crises - became the biggest casualties of a market rout triggered by the U.S. President's reciprocal trade tariffs.