BlackRock CEO Larry Fink stated that U.S. elections rarely have a significant impact on the markets despite media hype. Fink emphasized that market changes are often overestimated during election periods, saying, “We see repeatedly every year, every four years, when we have an election, everyone says that it’s going to have a dramatic change in the market, and over time it doesn’t.” Supporting this view, an RBC survey indicated that the U.S. election is not as crucial for the equity market as commonly believed. Contrarily, Barclays noted that equities are facing headwinds from both the U.S. election and geopolitical tensions. Christopher Wood, global head of equity at Jefferies, highlighted that the biggest risk to global equity markets is the deterioration in the geopolitical situation, which he believes is not yet fully factored in by the markets.