🕷️ Crawler Inspector

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Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 113 (from laksa009)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa113.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.semafor.com/article/07/28/2025/economists-warn-of-potential-us-stock-market-bubble\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.semafor.com/article/07/28/2025/economists-warn-of-potential-us-stock-market-bubble\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.semafor.com\/article\/07\/28\/2025\/economists-warn-of-potential-us-stock-market-bubble","crawl_time":1771991969,"first_indexed_time":1753711781,"http_code":200,"src_unparsed":"com,semafor!www,\/article\/07\/28\/2025\/economists-warn-of-potential-us-stock-market-bubble s443","src_root_hash":"12440207600551694713","history_drop_reason":null,"meta_title":"Economists warn of potential US stock market bubble | Semafor","meta_descriptions":["S&P 500 returns are ‘extremely concentrated in a small group of tech stocks,’ Apollo’s chief economist warned."],"attrs_boilerpipe_text":"Investors and experts voiced concern over a bubble in the US stock market.\nS&P 500 returns are “\nextremely concentrated\nin a small group of tech stocks,” Apollo’s chief economist warned, ING analysts said markets were “\nmore worried about a bubble\n… than a recession,” and Bank of America strategists argued that loosening monetary policy globally was fueling “\nbigger liquidity, bigger volatility, bigger bubble\n.”\nSome investors are beginning to look elsewhere for returns, with a growing number choosing bargain-basement stocks: The market is “getting this kind of ’90s,\ndot-com bubble feel to it\n,” one private-equity executive told The Wall Street Journal. “I will be looking for other opportunities.”","attrs_markdown":"[Events](https:\/\/www.semafor.com\/events)\n\n[Email Briefings](https:\/\/www.semafor.com\/newsletters)\n\n![rotating globe](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/spinning-earth.C7aXNZGt.gif)\n\n![Open navigation](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/nav-open-variant.Bw1LJ1Ti.svg)\n\n![Close navigation](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/nav-close.Cdr1XYEU.svg)\n\n![Close navigation](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/nav-close.Cdr1XYEU.svg)\n\n- [Home](https:\/\/www.semafor.com\/)\n- [Politics](https:\/\/www.semafor.com\/vertical\/politics)\n- [Business](https:\/\/www.semafor.com\/vertical\/business)\n- [Technology](https:\/\/www.semafor.com\/vertical\/tech)\n- [Energy](https:\/\/www.semafor.com\/vertical\/energy)\n- [Gulf](https:\/\/www.semafor.com\/vertical\/gulf)\n- [Africa](https:\/\/www.semafor.com\/vertical\/africa)\n- [Security](https:\/\/www.semafor.com\/vertical\/security)\n- [Media](https:\/\/www.semafor.com\/vertical\/media)\n- [CEO Signal](https:\/\/www.semafor.com\/vertical\/ceo)\n- [Semafor World Economy](https:\/\/www.semafor.com\/semafor-world-economy)\n\n- - [Events](https:\/\/www.semafor.com\/events)\n  - [Email Briefings](https:\/\/www.semafor.com\/newsletters)\n  - [Podcast![Mixed Signals podcast cover](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/signals_cover.T_AN7_ND.png)](https:\/\/www.semafor.com\/hub\/mixed-signals-media-podcast)\n- - [About](https:\/\/www.semafor.com\/about)\n  - [Speakers Bureau](https:\/\/semafor.com\/speakers-bureau)\n  - [Careers](https:\/\/www.semafor.com\/careers)\n- [Privacy](https:\/\/www.semafor.com\/privacy)\n  © 2026 Semafor Inc.\n\n[![Semafor Navigation Logo](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/semafor-logo-long-fos.BHTgOT2L.svg)](https:\/\/www.semafor.com\/)\n\n- [Home](https:\/\/www.semafor.com\/)\n- [Politics](https:\/\/www.semafor.com\/vertical\/politics)\n- [Business](https:\/\/www.semafor.com\/vertical\/business)\n- [Technology](https:\/\/www.semafor.com\/vertical\/tech)\n- [Energy](https:\/\/www.semafor.com\/vertical\/energy)\n- [Gulf](https:\/\/www.semafor.com\/vertical\/gulf)\n- [Africa](https:\/\/www.semafor.com\/vertical\/africa)\n- [Security](https:\/\/www.semafor.com\/vertical\/security)\n- [Media](https:\/\/www.semafor.com\/vertical\/media)\n- [CEO Signal](https:\/\/www.semafor.com\/vertical\/ceo)\n- [Semafor World Economy](https:\/\/www.semafor.com\/semafor-world-economy)\n\n- [Events](https:\/\/www.semafor.com\/events)[Email Briefings](https:\/\/www.semafor.com\/newsletters)\n  [Podcast![Mixed Signals podcast cover](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/signals_cover.T_AN7_ND.png)](https:\/\/www.semafor.com\/hub\/mixed-signals-media-podcast)\n- [About](https:\/\/www.semafor.com\/about)[Speaker Bureau](https:\/\/semafor.com\/speakers-bureau)[Careers](https:\/\/www.semafor.com\/careers)\n\n[Privacy](https:\/\/www.semafor.com\/privacy)© 2026 Semafor Inc.\n\n- D.C.\n- BXL\n- Lagos\n- Riyadh\n- Beijing\n- SG\n\n[Events](https:\/\/www.semafor.com\/events)\n\n[Email Briefings](https:\/\/www.semafor.com\/newsletters)\n\nIntelligence for the New World Economy\n\n- D.C.\n- BXL\n- Lagos\n\n[![Semafor Logo](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/homepage-semafor-text-logo-fos.Bjo5hsvx.svg)](https:\/\/www.semafor.com\/)\n\n- Riyadh\n- Beijing\n- SG\n\n![rotating globe](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/spinning-earth.C7aXNZGt.gif)\n\nIntelligence for the New World Economy\n\n![Open navigation](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/nav-open-variant.Bw1LJ1Ti.svg)\n\n![Close navigation](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/nav-close.Cdr1XYEU.svg)\n\n![Close navigation](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/nav-close.Cdr1XYEU.svg)\n\n- [Home](https:\/\/www.semafor.com\/)\n- [Politics](https:\/\/www.semafor.com\/vertical\/politics)\n- [Business](https:\/\/www.semafor.com\/vertical\/business)\n- [Technology](https:\/\/www.semafor.com\/vertical\/tech)\n- [Energy](https:\/\/www.semafor.com\/vertical\/energy)\n- [Gulf](https:\/\/www.semafor.com\/vertical\/gulf)\n- [Africa](https:\/\/www.semafor.com\/vertical\/africa)\n- [Security](https:\/\/www.semafor.com\/vertical\/security)\n- [Media](https:\/\/www.semafor.com\/vertical\/media)\n- [CEO Signal](https:\/\/www.semafor.com\/vertical\/ceo)\n- [Semafor World Economy](https:\/\/www.semafor.com\/semafor-world-economy)\n\n- - [Events](https:\/\/www.semafor.com\/events)\n  - [Email Briefings](https:\/\/www.semafor.com\/newsletters)\n  - [Podcast![Mixed Signals podcast cover](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/signals_cover.T_AN7_ND.png)](https:\/\/www.semafor.com\/hub\/mixed-signals-media-podcast)\n- - [About](https:\/\/www.semafor.com\/about)\n  - [Speakers Bureau](https:\/\/semafor.com\/speakers-bureau)\n  - [Careers](https:\/\/www.semafor.com\/careers)\n- [Privacy](https:\/\/www.semafor.com\/privacy)\n  © 2026 Semafor Inc.\n\n[![Semafor Navigation Logo](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/semafor-logo-long-fos.BHTgOT2L.svg)](https:\/\/www.semafor.com\/)\n***\n[Home](https:\/\/www.semafor.com\/)[Politics](https:\/\/www.semafor.com\/vertical\/politics)[Business](https:\/\/www.semafor.com\/vertical\/business)[Technology](https:\/\/www.semafor.com\/vertical\/tech)[Energy](https:\/\/www.semafor.com\/vertical\/energy)[Gulf](https:\/\/www.semafor.com\/vertical\/gulf)[Africa](https:\/\/www.semafor.com\/vertical\/africa)[Security](https:\/\/www.semafor.com\/vertical\/security)[Media](https:\/\/www.semafor.com\/vertical\/media)[CEO Signal](https:\/\/www.semafor.com\/vertical\/ceo)\n\n[Semafor World Economy](https:\/\/www.semafor.com\/semafor-world-economy)\n***\n\n![Flagship newsletter icon](https:\/\/img.semafor.com\/86bccd6b7989fc7e00fb8812cae8a9c0381abb1a-852x852.png?h=50&w=50)\n\nFrom Semafor Flagship\n\nIn your inbox, Every Weekday\n\n[Sign up](https:\/\/www.semafor.com\/newsletters\/flagship)\n\n# Economists warn of potential US stock market bubble\nJul 28, 2025, 6:27am EDT\n\nJul 28, 2025, 6:27am EDT\n\n[Post](https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Fwww.semafor.com%2Farticle%2F07%2F28%2F2025%2Feconomists-warn-of-potential-us-stock-market-bubble&text=Economists%20warn%20of%20potential%20US%20stock%20market%20bubble)\n\n[Email](mailto:?subject=Economists%20warn%20of%20potential%20US%20stock%20market%20bubble%20%7C%20Semafor&body=https:\/\/www.semafor.com\/article\/07\/28\/2025\/economists-warn-of-potential-us-stock-market-bubble)\n\n[Whatsapp](https:\/\/wa.me\/?text=Economists%20warn%20of%20potential%20US%20stock%20market%20bubble%20https%3A%2F%2Fwww.semafor.com%2Farticle%2F07%2F28%2F2025%2Feconomists-warn-of-potential-us-stock-market-bubble)\n\nCopy link\n\nShare\n\n![A person stands near an electronic board displaying information on recent fluctuations of market indices at the B3 Stock Exchange.](https:\/\/img.semafor.com\/48f1352890f288984d383d7d9d05b5098a7aa530-5565x3531.jpg?w=740&q=75&auto=format&h=469)\n\nAmanda Perobelli\/File Photo\/Reuters\n\nInvestors and experts voiced concern over a bubble in the US stock market.\n\nS\\&P 500 returns are “[extremely concentrated](https:\/\/www.apolloacademy.com\/sp-500-returns-extremely-concentrated\/) in a small group of tech stocks,” Apollo’s chief economist warned, ING analysts said markets were “[more worried about a bubble](https:\/\/think.ing.com\/articles\/fx-daily-trade-deal-adds-to-market-euphoria\/?utm_campaign=July-28_fx-daily-trade-deal-adds-to-market-euphoria)… than a recession,” and Bank of America strategists argued that loosening monetary policy globally was fueling “[bigger liquidity, bigger volatility, bigger bubble](https:\/\/www.bloomberg.com\/news\/articles\/2025-07-25\/bofa-s-hartnett-renews-warnings-around-bubble-risks-for-stocks).”\n\nSome investors are beginning to look elsewhere for returns, with a growing number choosing bargain-basement stocks: The market is “getting this kind of ’90s, [dot-com bubble feel to it](https:\/\/www.wsj.com\/finance\/stocks\/investing-value-stocks-e013e2f9),” one private-equity executive told The Wall Street Journal. “I will be looking for other opportunities.”\n\n![A chart showing the S\\&P 500 index to US GDP ratio](https:\/\/img.semafor.com\/133d6056fbde7deb97949258049b09194147a3ac-1066x1020.jpg?w=740&q=75&auto=format&h=708)\n\n— [Prashant Rao](https:\/\/www.semafor.com\/author\/prashant-rao)\n\nAD\n\n[![Semafor Logo](https:\/\/static.semafor.com\/_app\/renderer\/1771862072\/semafor-logo-long-fos.BHTgOT2L.svg)](https:\/\/www.semafor.com\/)\n\nIntelligence for the New World Economy\n\n- [Home](https:\/\/www.semafor.com\/)\n- [Politics](https:\/\/www.semafor.com\/vertical\/politics)\n- [Business](https:\/\/www.semafor.com\/vertical\/business)\n- [Technology](https:\/\/www.semafor.com\/vertical\/tech)\n- [Energy](https:\/\/www.semafor.com\/vertical\/energy)\n- [Gulf](https:\/\/www.semafor.com\/vertical\/gulf)\n- [Africa](https:\/\/www.semafor.com\/vertical\/africa)\n- [Security](https:\/\/www.semafor.com\/vertical\/security)\n- [Media](https:\/\/www.semafor.com\/vertical\/media)\n- [CEO Signal](https:\/\/www.semafor.com\/vertical\/ceo)\n- [Semafor World Economy](https:\/\/www.semafor.com\/semafor-world-economy)\n\n- [Events](https:\/\/www.semafor.com\/events)[Email Briefings](https:\/\/www.semafor.com\/newsletters)[Podcast](https:\/\/www.semafor.com\/hub\/mixed-signals-media-podcast)\n- [About](https:\/\/www.semafor.com\/about)[Careers](https:\/\/www.semafor.com\/careers)[Speakers Bureau](https:\/\/semafor.com\/speakers-bureau)\n\n© 2026 Semafor Inc.\n\n[Privacy](https:\/\/www.semafor.com\/privacy)","attrs_readable_markdown":"Investors and experts voiced concern over a bubble in the US stock market.\n\nS\\&P 500 returns are “[extremely concentrated](https:\/\/www.apolloacademy.com\/sp-500-returns-extremely-concentrated\/) in a small group of tech stocks,” Apollo’s chief economist warned, ING analysts said markets were “[more worried about a bubble](https:\/\/think.ing.com\/articles\/fx-daily-trade-deal-adds-to-market-euphoria\/?utm_campaign=July-28_fx-daily-trade-deal-adds-to-market-euphoria)… than a recession,” and Bank of America strategists argued that loosening monetary policy globally was fueling “[bigger liquidity, bigger volatility, bigger bubble](https:\/\/www.bloomberg.com\/news\/articles\/2025-07-25\/bofa-s-hartnett-renews-warnings-around-bubble-risks-for-stocks).”\n\nSome investors are beginning to look elsewhere for returns, with a growing number choosing bargain-basement stocks: The market is “getting this kind of ’90s, [dot-com bubble feel to it](https:\/\/www.wsj.com\/finance\/stocks\/investing-value-stocks-e013e2f9),” one private-equity executive told The Wall Street Journal. “I will be looking for other opportunities.”\n\n![A chart showing the S\\&P 500 index to US GDP ratio](https:\/\/img.semafor.com\/133d6056fbde7deb97949258049b09194147a3ac-1066x1020.jpg?w=740&q=75&auto=format&h=708)","meta_canonical":null}

3. Robots.txt Check

Query:

Response:

4. Spam/Ban Check

Query:

Response:

5. Seen Status Check

ℹ️ Skipped - page is already crawled

📄

INDEXABLE

✅

CRAWLED

1 month ago

🤖

ROBOTS ALLOWED

Page Info Filters

Filter	Status	Condition	Details
HTTP status	PASS	`download_http_code = 200`	HTTP 200
Age cutoff	PASS	`download_stamp > now() - 6 MONTH`	1.6 months ago
History drop	PASS	`isNull(history_drop_reason)`	No drop reason
Spam/ban	PASS	`fh_dont_index != 1 AND ml_spam_score = 0`	ml_spam_score=0
Canonical	PASS	`meta_canonical IS NULL OR = '' OR = src_unparsed`	Not set

Page Details

Property	Value
URL	https://www.semafor.com/article/07/28/2025/economists-warn-of-potential-us-stock-market-bubble
Last Crawled	2026-02-25 03:59:29 (1 month ago)
First Indexed	2025-07-28 14:09:41 (8 months ago)
HTTP Status Code	200
Meta Title	Economists warn of potential US stock market bubble \| Semafor
Meta Description	S&P 500 returns are ‘extremely concentrated in a small group of tech stocks,’ Apollo’s chief economist warned.
Meta Canonical	null
Boilerpipe Text	Investors and experts voiced concern over a bubble in the US stock market. S&P 500 returns are “ extremely concentrated in a small group of tech stocks,” Apollo’s chief economist warned, ING analysts said markets were “ more worried about a bubble … than a recession,” and Bank of America strategists argued that loosening monetary policy globally was fueling “ bigger liquidity, bigger volatility, bigger bubble .” Some investors are beginning to look elsewhere for returns, with a growing number choosing bargain-basement stocks: The market is “getting this kind of ’90s, dot-com bubble feel to it ,” one private-equity executive told The Wall Street Journal. “I will be looking for other opportunities.”
Markdown	[Events](https://www.semafor.com/events) [Email Briefings](https://www.semafor.com/newsletters) ![rotating globe](https://static.semafor.com/_app/renderer/1771862072/spinning-earth.C7aXNZGt.gif) ![Open navigation](https://static.semafor.com/_app/renderer/1771862072/nav-open-variant.Bw1LJ1Ti.svg) ![Close navigation](https://static.semafor.com/_app/renderer/1771862072/nav-close.Cdr1XYEU.svg) ![Close navigation](https://static.semafor.com/_app/renderer/1771862072/nav-close.Cdr1XYEU.svg) - [Home](https://www.semafor.com/) - [Politics](https://www.semafor.com/vertical/politics) - [Business](https://www.semafor.com/vertical/business) - [Technology](https://www.semafor.com/vertical/tech) - [Energy](https://www.semafor.com/vertical/energy) - [Gulf](https://www.semafor.com/vertical/gulf) - [Africa](https://www.semafor.com/vertical/africa) - [Security](https://www.semafor.com/vertical/security) - [Media](https://www.semafor.com/vertical/media) - [CEO Signal](https://www.semafor.com/vertical/ceo) - [Semafor World Economy](https://www.semafor.com/semafor-world-economy) - - [Events](https://www.semafor.com/events) - [Email Briefings](https://www.semafor.com/newsletters) - [Podcast![Mixed Signals podcast cover](https://static.semafor.com/_app/renderer/1771862072/signals_cover.T_AN7_ND.png)](https://www.semafor.com/hub/mixed-signals-media-podcast) - - [About](https://www.semafor.com/about) - [Speakers Bureau](https://semafor.com/speakers-bureau) - [Careers](https://www.semafor.com/careers) - [Privacy](https://www.semafor.com/privacy) © 2026 Semafor Inc. 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[![Semafor Navigation Logo](https://static.semafor.com/_app/renderer/1771862072/semafor-logo-long-fos.BHTgOT2L.svg)](https://www.semafor.com/) * [Home](https://www.semafor.com/)[Politics](https://www.semafor.com/vertical/politics)[Business](https://www.semafor.com/vertical/business)[Technology](https://www.semafor.com/vertical/tech)[Energy](https://www.semafor.com/vertical/energy)[Gulf](https://www.semafor.com/vertical/gulf)[Africa](https://www.semafor.com/vertical/africa)[Security](https://www.semafor.com/vertical/security)[Media](https://www.semafor.com/vertical/media)[CEO Signal](https://www.semafor.com/vertical/ceo) [Semafor World Economy](https://www.semafor.com/semafor-world-economy) * ![Flagship newsletter icon](https://img.semafor.com/86bccd6b7989fc7e00fb8812cae8a9c0381abb1a-852x852.png?h=50&w=50) From Semafor Flagship In your inbox, Every Weekday [Sign up](https://www.semafor.com/newsletters/flagship) # Economists warn of potential US stock market bubble Jul 28, 2025, 6:27am EDT Jul 28, 2025, 6:27am EDT [Post](https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.semafor.com%2Farticle%2F07%2F28%2F2025%2Feconomists-warn-of-potential-us-stock-market-bubble&text=Economists%20warn%20of%20potential%20US%20stock%20market%20bubble) [Email](mailto:?subject=Economists%20warn%20of%20potential%20US%20stock%20market%20bubble%20%7C%20Semafor&body=https://www.semafor.com/article/07/28/2025/economists-warn-of-potential-us-stock-market-bubble) [Whatsapp](https://wa.me/?text=Economists%20warn%20of%20potential%20US%20stock%20market%20bubble%20https%3A%2F%2Fwww.semafor.com%2Farticle%2F07%2F28%2F2025%2Feconomists-warn-of-potential-us-stock-market-bubble) Copy link Share ![A person stands near an electronic board displaying information on recent fluctuations of market indices at the B3 Stock Exchange.](https://img.semafor.com/48f1352890f288984d383d7d9d05b5098a7aa530-5565x3531.jpg?w=740&q=75&auto=format&h=469) Amanda Perobelli/File Photo/Reuters Investors and experts voiced concern over a bubble in the US stock market. S\&P 500 returns are “[extremely concentrated](https://www.apolloacademy.com/sp-500-returns-extremely-concentrated/) in a small group of tech stocks,” Apollo’s chief economist warned, ING analysts said markets were “[more worried about a bubble](https://think.ing.com/articles/fx-daily-trade-deal-adds-to-market-euphoria/?utm_campaign=July-28_fx-daily-trade-deal-adds-to-market-euphoria)… than a recession,” and Bank of America strategists argued that loosening monetary policy globally was fueling “[bigger liquidity, bigger volatility, bigger bubble](https://www.bloomberg.com/news/articles/2025-07-25/bofa-s-hartnett-renews-warnings-around-bubble-risks-for-stocks).” Some investors are beginning to look elsewhere for returns, with a growing number choosing bargain-basement stocks: The market is “getting this kind of ’90s, [dot-com bubble feel to it](https://www.wsj.com/finance/stocks/investing-value-stocks-e013e2f9),” one private-equity executive told The Wall Street Journal. “I will be looking for other opportunities.” ![A chart showing the S\&P 500 index to US GDP ratio](https://img.semafor.com/133d6056fbde7deb97949258049b09194147a3ac-1066x1020.jpg?w=740&q=75&auto=format&h=708) — [Prashant Rao](https://www.semafor.com/author/prashant-rao) AD [![Semafor Logo](https://static.semafor.com/_app/renderer/1771862072/semafor-logo-long-fos.BHTgOT2L.svg)](https://www.semafor.com/) Intelligence for the New World Economy - [Home](https://www.semafor.com/) - [Politics](https://www.semafor.com/vertical/politics) - [Business](https://www.semafor.com/vertical/business) - [Technology](https://www.semafor.com/vertical/tech) - [Energy](https://www.semafor.com/vertical/energy) - [Gulf](https://www.semafor.com/vertical/gulf) - [Africa](https://www.semafor.com/vertical/africa) - [Security](https://www.semafor.com/vertical/security) - [Media](https://www.semafor.com/vertical/media) - [CEO Signal](https://www.semafor.com/vertical/ceo) - [Semafor World Economy](https://www.semafor.com/semafor-world-economy) - [Events](https://www.semafor.com/events)[Email Briefings](https://www.semafor.com/newsletters)[Podcast](https://www.semafor.com/hub/mixed-signals-media-podcast) - [About](https://www.semafor.com/about)[Careers](https://www.semafor.com/careers)[Speakers Bureau](https://semafor.com/speakers-bureau) © 2026 Semafor Inc. 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Readable Markdown	Investors and experts voiced concern over a bubble in the US stock market. S\&P 500 returns are “[extremely concentrated](https://www.apolloacademy.com/sp-500-returns-extremely-concentrated/) in a small group of tech stocks,” Apollo’s chief economist warned, ING analysts said markets were “[more worried about a bubble](https://think.ing.com/articles/fx-daily-trade-deal-adds-to-market-euphoria/?utm_campaign=July-28_fx-daily-trade-deal-adds-to-market-euphoria)… than a recession,” and Bank of America strategists argued that loosening monetary policy globally was fueling “[bigger liquidity, bigger volatility, bigger bubble](https://www.bloomberg.com/news/articles/2025-07-25/bofa-s-hartnett-renews-warnings-around-bubble-risks-for-stocks).” Some investors are beginning to look elsewhere for returns, with a growing number choosing bargain-basement stocks: The market is “getting this kind of ’90s, [dot-com bubble feel to it](https://www.wsj.com/finance/stocks/investing-value-stocks-e013e2f9),” one private-equity executive told The Wall Street Journal. “I will be looking for other opportunities.” ![A chart showing the S\&P 500 index to US GDP ratio](https://img.semafor.com/133d6056fbde7deb97949258049b09194147a3ac-1066x1020.jpg?w=740&q=75&auto=format&h=708)
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