Overheated, overhyped… but probably not over

Show notes

Markets took a beating — and for familiar reasons: overstretched tech valuations, an ultra-narrow rally and the eerie déjà vu of dot-com bubble talk. Add fading Fed rate-cut hopes, patchy US data, and rising volatility, and you’ve got a recipe for nerves. But is this really the start of a 10–20% correction… or just another pause before new highs?
From Palantir’s record results triggering a selloff to Nvidia’s ever-expanding AI empire, Big Tech is once again at the heart of the storm. AMD fell after beating results and projections, but Nasdaq futures are less severely sold this morning. Meanwhile, the dollar is flexing its safe-haven muscles, gold is losing its shine and investors are watching central banks and liquidity moves closely to see of there’s anything worthy to keep the rally going.
Could the AI rally survive another shockwave — or is the market finally running out of steam?.

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Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.