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Piyush Gupta, CEO of DBS Bank, recently sounded the alarm at the Global Financial Leaders' Investment Summit held in Hong Kong, China. He cautioned that the U.S. market could be in for a rocky ride ahead. Gupta specifically highlighted the sky-high valuations of AI stocks in the U.S. stock market, with a particular focus on the "Magnificent Seven" tech behemoths: Amazon, Alphabet, Meta, Apple, Microsoft, NVIDIA, and Tesla. (Here, "she" was corrected to "he" assuming Piyush Gupta is male, as it's a common male name. If incorrect, please adjust accordingly.) He remarked, "Trillions of dollars are tied up in just seven stocks. Such a high degree of concentration naturally sparks concerns, with many wondering when the bubble will finally burst."
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