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Axios
Axios
Business

Why stock market valuations are diving

Stock Market Economy
Data: FactSet; Chart: Axios Visuals

A swift shift in investor enthusiasm, rather than a weakening in corporate profit power, is driving the market's recent flop. Blame Powell. Or Putin. Or both.

The big picture: The stock market is on track for the worst year since 2008, falling nearly 13% so far in 2022, lopping roughly $5 trillion off the value of the S&P 500 and threatening to turn a sour national mood downright poisonous.

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