The cyclically adjusted price-to-earnings ratio

 

developed by Yale economist Robert Shiller, topped 38 in late July,  better known as the CAPE ratio — showed the S&P 500 had reached its priciest point since late 2021.

MarketWatch 6 August 2025

https://www.marketwatch.com/story/stocks-are-sinking-and-these-4-charts-suggest-a-deeper-drop-might-be-just-getting-started-05a5e56a

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