Risky assets slid, with tech stocks and cryptocurrencies bearing the brunt of the selling, after long-simmering concerns about lofty valuations were fanned anew by a chorus of Wall Street executives who warned investors to brace for a pullback.
With the rally confined to fewer and fewer shares as sentiment and technical indicators showed signs of overheating, the chiefs of giants from Capital Group to Goldman Sachs Group Inc. and Morgan Stanley noted the possibility of a pullback as a healthy development.
Stocks halt rally.
Photographer: Michael Nagle/Bloomberg
“This reinforces our thinking that the stock market is ripe for some sort of material pullback over the ...
