U.S. stocks fell for the fourth consecutive day as investors questioned high valuations

ChainCatcher news, according to Jin Ten reports, U.S. stocks have fallen for the fourth consecutive day, as investors question high valuations ahead of a busy retail earnings season and the upcoming central bank annual meeting. The S&P 500 index fell by 0.7%, and the Nasdaq dropped over 1%. Howard Marks, co-chairman of Oaktree Capital Management, stated that stock valuations are expensive compared to fundamentals. Apollo Management's chief economist Torsten Slok pointed out that consumer spending is under pressure due to factors including slowing job growth, the resumption of student loan repayments, and an increase in eviction numbers.