BlackRock Inc. Chief Executive Officer Laurence D. Fink said the selloff last week in U.S. equity markets “weeded out the excesses,” making stocks a good investment for those who aren’t going to sell their positions soon.

“As a long-term investor, yes, I’d be buying equities today,” he said Tuesday in an interview with Bloomberg Television’s Erik Schatzker. “This is just a market correction, and we need market corrections to clean the market out.”

Fink, who leads the world’s biggest money manager with $4.5 trillion in assets, said he received many calls from regulators globally in the last week, as market volatility increased and stocks slumped. The Standard & Poor’s 500 Index plunged 7.4 percent from its peak on Sept. 18 through Oct. 15, as economic reports reignited concerns about a global slowdown and investors worried about the fallout from the spread of Ebola.

That “blood” in the market was caused by “hot money” and hedge-fund borrowing, said Fink, who suggested that leveraged products require more regulatory scrutiny.

“There is certainly a heightened worry about whether there is too much leverage within the system,” he said.