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The US stock market has fallen for the fourth consecutive day as investors question the high valuations.
According to Mars Finance news, as reported by Jin10, U.S. stocks have fallen for the fourth consecutive day, as investors question high valuations in light of the intensive retail earnings disclosures and the upcoming Central Bank annual meeting. The S&P 500 index fell 0.7%, and the Nasdaq dropped over 1%. Howard Marks, co-chairman of Oaktree Capital Management, stated that stock valuations are expensive compared to fundamentals. Apollo's chief economist, Torsten Slok, pointed out that consumer spending is under pressure due to factors including a slowdown in job growth, the resumption of student loan repayments, and an increase in evictions.