Global markets have hit record highs as the frenzy around artificial intelligence boosted risk sentiment, but some investors have urged caution.
A trader works during the closing bell at the New York Stock Exchange on March 17, 2020 at Wall Street in New York City.Global markets hit record highs this week as the frenzy around artificial intelligence boosted risk sentiment and hopes of a return to economic growth. But some investors have urged caution, suggesting that high tech valuations could put the rally at risk.
"Over the course of the year, it is likely that the overall AI theme will get a reality check at the companies' level," he said in notes to CNBC earlier this week. "The AI trade as we have seen it might have a little more to go, but it seems to be approaching important technical levels where some profit taking could occur."For Ferreira, "18,300 on NDX and early March could be key exit levels ahead of some material consolidation.
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