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Behind the new highs in U.S. stocks lie multiple concerns, with the current "price-to-earnings ratio" only second to the internet bubble era.
BlockBeats News, May 1st, according to the Financial Times report, although the S&P 500 index and the Nasdaq index have recently hit new all-time highs, there are still multiple risk hidden dangers behind the market.
Valuation levels are in historically high ranges. Data shows that as of April 2026, the S&P 500 forward P/E ratio is about 24 times (the historical average is about 16 times), and the Shiller P/E ratio (cyclically adjusted) has risen above 37 times, reaching extremely high levels in history, second only to the internet bubble period. This “valuation + high expectations” combination means the market’s tolerance for errors is extremely limited.
In addition, the current rise in U.S. stocks is based on optimistic assumptions such as “AI-driven profits, falling inflation, declining interest rates, and manageable risks,” any deviation in any variable could trigger amplified market shocks.