Ark Invest CEO Cathie Wood warned that a global financial crisis could be brewing, saying aggressive efforts by some emerging-market countries to defend their currencies resemble conditions that preceded the Asian financial crisis of the late 1990s.
Cathie Wood Sees Crisis Signals
In a video shared by the Ark Invest Tracker account on X, Wood said she was closely watching countries such as Turkey, where authorities have aggressively defended the local currency.
She added that there were similar interventions in emerging markets during the 1980s and before the 1997 Asian financial crisis, which were signs that broader financial stress was building.
The 1997 Asian financial crisis began with pressure on regional currencies before spreading across financial markets and triggering recessions in several economies.
