US stocks end mostly lower on valuation worries

📆 18-06-20 02:01:00
📰 ChannelNewsAsia

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NEW YORK: The Dow and S&P 500 both fell on Wednesday (Jun 17) as markets monitored increased coronavirus cases amid worries US stocks are overvalued.

The lackluster session came after Tuesday's rally in which major indices gained around two percent following surprisingly good retail sales data and a positive clinical study of a coronavirus treatment. The"market has made a big run in a short amount of time in the face of a really tough economic climate," O'Hare said."The market is due for a cooling-off period."O'Hare said a catalyst for late selling was an interview with investor Jeremy Grantham who warned on CNBC that the US is forming a stock bubble.

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