New Delhi, Oct. 16 -- The American stock market, fuelled by "enthusiasm around artificial intelligence", is hovering near an all-time high, despite volatility triggered by renewed trade tensions following President Donald Trump's series of tariffs on key trading partners.

This trend has drawn comparisons to the late 1990s tech boom that ended with the dotcom crash in 2000, Gita Gopinath, the former chief economist of the International Monetary Fund (IMF) wrote for The Economist.

While technological innovation continues to reshape industries and increase productivity, Gopinath warns that the current rally is likely "setting the stage for another painful market correction," with consequences that could be far more severe and global in sco...