PANews reported on May 15th, citing CoinDesk, that US stock market valuations are approaching levels seen during the dot-com bubble. The Shiller CAPE (Price-to-Earnings Ratio), a measure of long-term valuation, has risen to 42.18, second only to the 44.19 peak in 1999. Historical data shows that the S&P 500 subsequently fell by approximately 50% after its 1999 peak. Market analysts believe that against the backdrop of the AI ​​boom driving the continued rise of tech stocks, valuation risks in the US stock market are accumulating again.