Wall Street has just suffered a massive correction, wiping out more than $1.5 trillion in market value. Leading tech stocks — from Microsoft to Meta — have plunged, with last week alone erasing $820 billion in value. The ripple effects are spreading fast. The crypto market has lost over $1 trillion in just six weeks. Bitcoin is down 28% and trading at its lowest level since April. Investors are pulling out of risky assets — both traditional and digital — amid fears that the U.S. Federal Reserve won’t cut interest rates anytime soon. Adding to the anxiety is a potential bubble in artificial intelligence stocks. Even Google CEO Sundar Pichai has warned of “irrationality” in the AI rally. As inflation stays high and economic signals turn mixed, markets are bracing for more volatility.
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