The Stock Market Is Closing in on Its Highest Valuation Ever. The Last Time It Got This Expensive, It Crashed.
The stock market is hitting record levels on all fronts. The S&P 500 (^GSPC +0.35%), Dow Jones Industrial Average (^DJI +0.72%), and Nasdaq Composite (^IXIC +0.05%) have all hit record highs this year, extending a bull market that’s been nearly four years in the making. If these gains hold, 2026 will mark the fourth consecutive…