Billionaire Ray Dalio warned that artificial intelligence is a “classic bubble” that is nearing a bursting point thanks to rising interest rates and the need to turn wealth into cash. A rally in stocks came to a halt and global bonds fell as mounting attacks on tankers in the Middle East pushed oil prices higher. Futures for the S&P 500 stood pat after the index hit a record high in the previous session. Europe’s Stoxx 600 fell 0.6%, ending a three-day run of gains. SK Hynix fell nearly 3%
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