An estimated half a trillion dollars was wiped out from the financial markets this week, as some of the biggest tech companies, including Nvidia, Microsoft, and Palantir Technologies saw a temporary but sizeable drop in their share prices on Tuesday. It may have been just a short-lived correction, but experts warn of mounting signs of a financial market crash, which could cost several times this amount.
With dependence on tech and AI growing, critics argue that betting on these profits is a gamble, stressing that the future remains uncertain.
Singapore’s central bank joined a global chorus of warnings from the IMF, Fed Chair Jerome Powell, and Andrew Bailey about overvalued stocks.
The Monetary Authority of Singapore said on Wednesday that such a trend is fuelled by “optimism in AI’s ability to generate sufficient future returns”, which could trigger sharp corrections in the broader stock market.
Goldman
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