Drop in US, Asia and Europe follows warning from bank bosses that market correction could lie ahead
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Global stock markets have fallen sharply amid concerns that a boom in valuations of artificial intelligence (AI) companies could be rapidly cooling.
Markets in the US, Asia and Europe have fallen after bank bosses warned a serious stock market correction could lie ahead, after a run of record stock market highs led some companies to appear overvalued.
In the US, the tech-focused Nasdaq and the S&P 500 on Tuesday suffered their largest one-day percentage drop in almost a month.
