World Economic Forum (WEF) chief flagged three possible bubbles in financial markets—including artificial intelligence, global government debt and non-bank credit sectors. The comment follows a pull-back in technology equities and attributed elevated risk to high valuations and investor concentration in a small set of firms. Analysts say the warning underscores the need for caution as the global economy remains at risk from policy shifts, interest-rate changes and structural imbalances despite equity market highs.