Stocks Halt Rally as Wall Street CEOs Sound Alarm: Markets Wrap

A chorus of Wall Street executives warning investors to brace for a pullback amid lofty valuations triggered a slide in stocks amid worries about whether the market has run ahead of itself. Bitcoin sank. Bonds rose.

At a time when bulls have started questioning the need for a breather, the chiefs of giants from Capital Group to Goldman Sachs Group Inc. and Morgan Stanley noted the possibility of a pullback as a healthy development. Not only are sentiment and technical indicators flashing signs of overheating, but the narrow leadership of big techs has made some investors uncomfortable.

Stocks hit a wall.

Photographer: Michael Nagle/Bloomberg

“This reinforces ...