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Wall Street's $8 trillion man: Markets are 'tired' of Trump chaos

November 18, 2020. Summarized by summa-bot.

A man walks along Wall Street as the Dow Jones surged more than 1,6000 points after drug maker Pfizer announced that its experimental COVID-19 vaccine was more than 90% effective, New York, NY, November 9, 2020. World financial markets reacted positively on the news of Joe Biden defeating incumbent U.S. President Donald Trump in the 2020 Presidential Elections. (Anthony Behar/Sipa USA)(Sipa via AP Images)

The post-election celebration on Wall Street isn't just about relief over a divided government. It's also being driven by hopes of calmer leadership after four years of chaos in Washington.

"I do believe strongly that the market is in desire of more stability, of less volatility," Fink said during a pre-taped conversation airing Wednesday evening at the Bloomberg New Economy Forum.

We're tired about all the volume we hear out of Washington," Fink said during the conversation with David Rubenstein, the billionaire co-founder and executive chairman of the Carlyle Group.

"The market likes a divided government," Fink said.

"The poor do not own financial assets, so the divide because of the strength of the equity markets and the job losses that we've witnessed has really created even more of an income inequality," Fink said.

If Biden asked for his advice, Fink said, he would urge the incoming administration to focus on creating jobs through a long-overdue infrastructure package to fix crumbling roads and bridges.

"I've committed to my employees and to my board and to my family already," Fink said, "I'm staying in New York for the time being. "

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