Australia’s biggest pension fund to cut global stocks allocation on AI concerns
AustralianSuper warns of ‘maturing’ US tech cycle and high valuations
AustralianSuper warns of ‘maturing’ US tech cycle and high valuations

Public and private-sector funds concerned over market’s growing concentration in a small number of tech stocks

Decline in Asian markets led by companies most exposed to demand for artificial intelligence

Cautious comments from top bank executives add to jittery sentiment on Wall Street

Some investors grow concerned that region’s markets could be hit by downturn in US tech sector

Bank of America survey shows a majority of investors think companies are spending too much on AI infrastructure

Some investors reduce positions or buy protection for their portfolios amid concerns over valuations