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Blankfein Warns of 'Reckoning' Amid Anxious Markets

Bloomberg Markets •
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Former Goldman Sachs CEO Lloyd Blankfein warns that geopolitical tensions, particularly the US-Israeli attack on Iran, are creating an anxious market environment. Blankfein, whose new book 'Streetwise' chronicles his rise through Goldman Sachs, says his experience suggests 'a reckoning' is coming despite his base case that current market jitters should be temporary.

Blankfein's comments come as investors grapple with heightened geopolitical risk. The veteran banker emphasizes that while markets may reflect these tensions for a period, the underlying anxiety extends beyond any single event. His measured take suggests investors should prepare for potential volatility even as he doesn't predict immediate crisis.

The construction industry meanwhile faces its own transformation as AI data center demand surges. Bloomberg contributor Nela Richardson notes that construction worker demand has skyrocketed, with companies like DPR Construction seeing unprecedented hiring needs. Mark Whitson of DPR Construction says this represents a unique moment in the industry's history.