The FOMC fell in line and served up an expected "hawkish rate cut". However, both Oracle and Broadcom – key players in the A.I. boom – saw their shares sink for different reasons, with the common denominator being A.I. valuation concerns. Yields were higher and gold rallied.

There are no shortage of investors which think stocks are well over-baked, especially stocks of companies that are directly or indirectly associated with the ongoing A.I. hype.  It has appeared for weeks that this was nothing more than scaremongering as stocks continued their stratospheric rise.  However, the past week saw scepticism start to set in as investor concerns regarding valuations broadened.  Tech stocks led the sell-off, although there were few places to hide as mo