The Nasdaq 100 Index trades for 38 times earnings. Abby Joseph Cohen says it’s a market with “ no margin for error.” It’s only July, and the S&P 500 Index has put in a gain that most fund managers would consider a stellar year.
So when big drops like Tuesday’s land with no obvious bad news to explain them, it’s useful to consider how far the market has already come.
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July 28, 2021 at 03:23AM
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This Type of Day Is Price of Progress in Post-Pandemic Stocks - Bloomberg
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