HSBC Holdings CEO Georges Elhedery said the conflict in the Middle East and broader "uncertainties¡± are beginning to dent client confidence as investors navigate an increasingly volatile global landscape.
"We¡¯re saddened and concerned with what¡¯s happening in the Middle East, and we¡¯re concerned not just with what¡¯s happening, but also with how long this will take,¡± Elhedery said in an interview at an HSBC conference in Hong Kong. "Unfortunately, some of these uncertainties have initially started to weigh on general confidence,¡± he said.
"We worry that the continuation of this conflict will have that impact globally way beyond the Middle East,¡± he said, seeing impact on not just in the price of goods, oil and refined products but also on fertilizers and metals.
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