Federal Reserve chairman Alan Greenspan, whose death was announced on Monday night, was an icon of the financial world for many reasons. But in 1996, he gave markets a phrase that will live on forever: irrational exuberance.It’s a wonderfully elegant way to describe those periods when investors lose their heads. And we’re living through one now.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
SpaceX is diving, the AI trade is stumbling. Now an old threat looms
SpaceX shares plunged 16 per cent on Monday night as doubts about the AI trade keep growing. The prospect of rising interest rates could further hurt sentiment.
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