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Stocks hit a milestone seen just six times since 1871
The article points to rising margin debt and the risk of higher rates as current pressures that have preceded prior selloffs.
The stock market has reached a milestone achieved only six times since January 1871, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all setting fresh records since early June, according to Yahoo Finance citing historical market patterns.
The piece frames the latest occurrence as a warning, noting that prior instances were followed by damaging outcomes for Wall Street.
It highlights two near-term factors investors are watching: a parabolic rise in outstanding margin debt, and the prospect of higher interest rates weighing on the AI data center build-out.
For valuation context, the article contrasts the traditional price-to-earnings ratio with the S&P 500 Shiller P/E, also called the CAPE ratio, saying the measure is less disrupted by recessions because it uses trailing 10-year earnings.
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