Valuation Is a Scapegoat. Don’t Blame It for the Market Selloff Tuesday.

Published 2 days ago Negative
Valuation Is a Scapegoat. Don’t Blame It for the Market Selloff Tuesday.
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There’s the adage that you get what you pay for, and it seems to apply to this bull market. Investors have been happy to pony up for tech stocks connected to the artificial intelligence trade, given what they see as the potential for equally rich returns. Valuations were a convenient scapegoat however, given the tumbled 2% and the 1.1% on a day when “there wasn’t any specific negative news to warrant the decline and the fall was more about sentiment and profit-taking than actual negative news,” as Sevens Report President Tom Essaye put it.

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