Dow falls 450 points as Goldman Sachs, Morgan Stanley CEOs warn of market correction after AI boom
US stocks fell Tuesday as the CEOs of Goldman Sachs and Morgan Stanley warned that markets are due for a correction – adding to investor fears that AI stocks have become overvalued. The Dow Jones Industrial Average plunged 450 points, or 1%, while the S&P 500 and Nasdaq slid 1.2% and 1.7%, respectively.“It’s likely there’ll be a 10 to 20% drawdown in equity markets sometime in the next 12 to 24 months,” Goldman Sachs CEO David Solomon said Tuesday at a financial summit in Hong Kong. 4 US stocks fell Tues ...