Stock valuations are still high, and that suggests the market has yet to bottom and could fall as much 30%, Bank of America says

Jan 9 2023 by Business Insider

 

(Photo by Scott Heins/Getty Images)

The stock market has yet to find its bottom based on its rich valuation, according to Bank of America.BofA said elevated valuations suggest the stock market could ultimately fall 30% from current levels."The S&P 500 still screens as statistically expensive vs. history on 17 out of 20 measures we track," BofA said.

Despite the stock market's 19% decline in 2022 amid positive earnings growth, there could still be more pain ahead, Bank of America said in a...

Continue Reading Stock valuations are still high, and that suggests the market has yet to bottom and could fall as much 30%, Bank of America says