Zoho Corporation co-founder Sridhar Vembu has sounded an alarm on the global stock and precious-metals markets, stating that “gold is flashing a big warning signal” and calling the US stock market “in a clear and massive bubble”. He draws parallels to the 2008 financial crisis, citing high leverage and elevated valuations. Vembu said he sees gold less as an investment and more as insurance against systemic financial risk. His comments come amid high global asset-price inflation and increased focus on alternative assets.