After the big drop, U.S. stocks are still not cheap

Goldman Sachs hedge fund research head Tony Pasuariello pointed out that the fundamentals of the U.S. stock market are deteriorating, and the market is still looking for put option strike prices. The S&P is expected to have a price-to-earnings ratio of 18 times, which is at a historical high. Client responses indicate a flow of funds towards sellers, although quick money has sold off long positions, other investors are just beginning to reduce risk. American households have not yet shed risk, and foreign investors hold a large number of long positions, which may affect the performance of U.S. stocks in the coming weeks