Larry Fink: We saw huge outflows before last week's plunge due to 'more fear' among investors

BlackRock Chairman and CEO Larry Fink said Tuesday he saw huge outflows before last week's stock plunge due to "more fear" among investors.

"There's a huge commentary that we are at peak earnings," Fink said in a "Squawk Box" interview.

Wednesday and Thursday saw the heaviest selling of the week, when the Dow plummeted nearly 1,400 points, or more than 5.2 percent, in the two sessions.

The Dow and S&P 500 fell more than 4 percent for the week despite strong gains Friday. The Nasdaq dropped nearly 3.75 percent for the week.

Earlier Tuesday, BlackRock reported better-than-expected earnings for the third quarter as its assets under management grew by 8 percent on a year-over-year basis.

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