A host of concerns across the globe are raising red market flags for heavy-hitting investors such as Ray Dalio and Jeffrey Gundlach, says a recent Bloomberg article.

Among the concerns; rising global turmoil and terrorist activity, valuations that “no longer compensate for potential flareups in North Korea and Venezuela,” and unpredictability on Wall Street. Emerging market shares are among the assets causing worry, given that they are yielding less that U.S. junk bonds for “only the third time in history,” the article says.

According to the article, DoubleLine Capital CEO Gundlach’s believes traders should be “moving toward the exits” on riskier securities. Increased populism and intensifying worldwide conflict is leading Bridgewater Associates’ Ray Dalio to strategically reduce risk. He is quoted as saying, “I can’t say how bad this time around will get. I’m watching how conflict is being handled as a guide, and I’m not encouraged.”

The article also references the memo published in July by Howard Marks of Oaktree Capital Group that underscores what he views as market risks. He argues that “when investor confidence declines, risks in developing nations such as coups, institutionalized corruption, devaluation and debt repudiation are exposed.” While something may go awry, however, Marks doesn’t believe it will happen imminently.