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Billionaire Ray Dalio, founder of Bridgewater Associates LP, speaks at the International Institute of Finance [IIF] annual membership meeting in Washington, DC, Friday, October 18, 2019.

Al Drago | Bloomberg | Getty Images

Abu Dhabi, United Arab Emirates-Billionaire hedge fund giant Ray Dalio believes the impact of the new coronavirus on the market's roller coaster may be overstated.

He told attendees at the Milken conference in Abu Dhabi in 2020: Tuesday.

"Because of this temporary nature, I hope that there will be more rebounds. It is likely that in the next year or two, it will go far beyond everyone's talking.

Comment from Dalio⁠ Bridgewater federationThe company manages $ 160 billion in global investments—much calmer than many analysts and investors who have discussed the topic on CNBC. Some people have warned of this disease May evolve into something worse than the flu And the outbreak could plunge China into a technology recession and affect the rest of the world.

Even some bulls on Wall Street say they are worried about the virus May lead to stock market correction ⁠ [When the stock price falls by at least 10% from its high], it currently poses the biggest threat market growth.

American market manages Eliminate coronavirus-related sell-offs Last week, S & P 500 Score a new record. S & P and Dow Last Friday, it broke the record of winning for four consecutive days, but due the rise in technology stocks, Monday's stock market rose, they are still up 3% and 2% respectively this year.

A major blow the Chinese economy

As the government instructed workers stay at home to curb the outbreak, the virus has shut down operations in China's provinces, which account for more than 80% of the world's second-largest GDP and 90% of exports. It pushed down oil futures prices, and OPEC and OPEC + producing countries, especially those in the Middle East, rushed to build a bottom when crude oil prices fell.

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In this quarter, China's gross domestic product [GDP] growth is expected almost stagnate, where most of the deaths and infections have already occurred. Some forecasts suggest that growth will fall below 2% same time last year. In the protracted trade war with the United States, China ’s GDP growth last year has reached its lowest level in three years at 6.1%.

For Dalio, his personal net worth is $ 18 billion, Makes its customers nearly $ 60 billion Even more worrying since its inception 45 years ago are long-term issues such as wealth inequality.

"If you do an economic downturn, what do I worry about the most," Dario said, "we have now expanded for 11 years; whether it is one or two, three or three years, there is greater polarization. , The gap between the rich and the poor and the gap, I will pay more attention this. "