Market Overview - Global stock markets experienced a sell-off as Wall Street executives indicated that equities are overvalued, with a potential drop of more than 10% in the U.S. stock market within the next 12 to 24 months being a possibility [1] - Concerns have been raised about a potential artificial intelligence stock bubble, with analysts expressing worries about overvaluation in this sector [1] Company Performance - Palantir Technologies raised its annual revenue outlook to $4.4 billion and reported a 63% increase in revenue to $1.18 billion for the third quarter, with profit at $0.21 per share, yet its shares fell due to concerns over high valuation [2] - The inability of Palantir's stock to rally despite strong quarterly results suggests that bullish news may already be priced in [2] Private Credit Concerns - Bond traders are increasingly worried about the stability of private credit deals, which have grown to a $1.7 trillion industry, with warnings from senior financiers about potential cracks in this market [4][6] - TCW Group's CEO expressed nervousness about parts of private credit, while another investment officer noted a "race to the bottom" in terms of covenants [5] - U.S. life insurers have significantly increased their private debt investments, allocating nearly one-third of their $5.6 trillion in assets to this sector, raising concerns about regulatory weaknesses [7]