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With valuations in the U.S. stock market becoming increasingly stretched, the chief executive of Southeast Asia's largest bank is warning investors to expect turbulence ahead.

"We've seen a lot of volatility in the markets. It could be equities, it could be rates, it could be foreign exchange," DBS CEO Tan Su Shan told CNBC, adding that she expects that volatility to continue.

Tan, who took over the helm of DBS from longtime CEO Piyush Gupta in March, said that investors were particularly worried about the lofty valuations of artificial intelligence stocks, especially the so-called "Magnificent Seven."

The Magnificent Seven — Amazon , Alphabet , Meta , Apple ,

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