Just days ago the S&P 500’s trailing 12-month P/E ratio was sitting near 19. After the last week or so, we’ve seen it dip all the way down to 16.75.
In the second chart below, we highlight the percentage of stocks in the S&P 500 trading above their 50-days after today’s rout. At this point just 8% of stocks in the index are above their 50-days, which is below the reading we saw at the lows during the Ebola scare last October.
Below is a look at the percentage of stocks by sector trading above their 50-days. Absolute carnage across the cyclical landscape.
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