Equity markets will rise if corporate earnings are strong but a trade war could endanger stocks, said Larry Fink, chief executive of BlackRock Inc.

“If there is an extended trade war, that will mute economic growth” and likely lead to a correction, Fink said in an interview Thursday. If first quarter earnings are really strong, the market would rise, he added.

While trade restrictions have yet to be implemented, Fink said he’s encouraged by hints of movement toward a resolution on the North American Free Trade Agreement.

"If we are getting closer to NAFTA, which was a big concern of mine at beginning of this year, that is a net positive,” he said after BlackRock reported first-quarter earnings.