Wall Street boss warns of ‘cockroaches’ in $3tn debt market

Surging share prices mean that on some metrics “concentration risk… is now substantially higher than during the dot-com bubble”, the IMF said, evoking the boom and bust which followed the launch of internet companies around the turn of the millennium.Asset prices are at risk of “collapse” if tech stocks fail to live up to investors’ sky-high expectations, the watchdog said.The warning came in its Global Financial Stability Report, which also warned that a surge in the value of artificial intelligence (AI) s ...