The stock market is edging toward extremes of Great Depression and dot-com eras

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Image of a stock trader at the New York Stock Exchange.
Equities are look historically high relative to government bonds.

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Jeremy Grantham and Bill Gross have warned stocks are overvalued. Wharton professor Jeremy Siegel disagrees: "They are underpriced"

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Wharton professor Jeremy Siegel
Wharton professor Jeremy Siegel is a long-time market commentator.

REUTERS/Steve Marcus

The last time US stocks were this pricey relative to the debt market, the S&P 500 crashed 50%

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Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City.
Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City.

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