Inventory market indices have been ‘extremely overvalued’ on customary metrics

The Australian’s Washington Correspondent Adam Creighton says a few of the air that has come out of the inventory market indices within the United States and United Kingdom is “probably not a bad thing”.

“They were extremely overvalued on standard metrics,” Mr Creighton instructed Sky News host Ross Greenwood.

“The main index in the US has fallen almost 20 per cent … not quite a bare market but it’s still much more expensive than it was in say February 2020.”

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