World on Verge of Largest Financial Market Bubble — Rosneft CEO
A screen above the trading floor shows an intraday number for the Dow Jones industrial average, at the New York Stock Exchange, Wednesday, Aug. 14, 2019. Stocks are falling sharply after the bond market threw up another warning flag on the economy. 
The world is on the verge of the largest financial market bubble since the 19th century, driven by the growing market share of technology companies, Russian oil giant Rosneft CEO Igor Sechin said on Saturday.»Over the past ten years, the share of the ten largest technology companies in the US stock market has tripled, exceeding 40%,” Sechin said at the St. Petersburg International Economic Forum (SPIEF).He added that taking into account the expected launch of such giants as SpaceX, OpenAI, and Anthropic, with a combined valuation of several trillion dollars, this figure will approach 50%.“Clearly, the world is on the verge of the largest financial market bubble in history since the railroad boom in the United States in the 19th century,» the Rosneft CEO pointed out.The 2026 SPIEF is taking place from June 3-6. RIA Novosti is the general information partner of the forum.
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