Stock market indices were ‘extremely overvalued’ on standard metrics

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The Australian’s Washington Correspondent Adam Creighton says some of the air that has come out of the stock market indices in the United States and United Kingdom is “probably not a bad thing”.

“They were extremely overvalued on standard metrics,” Mr Creighton told Sky News host Ross Greenwood.

“The main index in the US has fallen almost 20 per cent … not quite a bare market but it’s still much more expensive than it was in say February 2020.”

 

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