US stock valuations questioned, Asian stock markets generally decline
ChainCatcher News, according to Golden Ten Data, Asian stock markets followed the overnight sell-off in U.S. stocks on Wednesday, as investor concerns over excessive valuations weakened market confidence. The MSCI Asia-Pacific Index fell by 1%, with the South Korean stock market leading the decline, dropping more than 4%. Chris Weston, Head of Research at Pepperstone Group, stated that the market lacks short-term catalysts and there are few reasons to buy. The CEOs of Morgan Stanley and Goldman Sachs questioned the sustainability of sky-high valuations, intensifying market concerns about an overinflated stock market.
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