Apollo CEO warns that the market will experience a correction, with the probability of external shocks occurring between 30% and 35%.

Golden Finance reports that on May 7th, Apollo Global Management CEO Mark Ron warned investors on Wednesday that he is preparing the company for a potential market downturn and harshly criticized what he called some of his competitors’ insurance companies’ “malicious” behavior. The current stable economic situation masks the increasing risk of what he called “sudden” shocks. Ron said, “Everything we see right now is actually quite strong. But in our view, the likelihood of deviations from normal outcomes is much higher.” At the time of his remarks, the U.S. stock market was approaching record highs, and his comments intensified concerns expressed by financial executives, including JPMorgan Chase CEO Jamie Dimon. Ron stated that he believes the probability of external shocks occurring is between 30% and 35%, which is far higher than the usual risk level. Multiple factors working together could lead to market instability, including a “comprehensive geopolitical reset,” policies that could trigger inflation by restricting labor and trade, and the artificial intelligence wave that is massively reshaping employment and economic growth. (Dongxin News)