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I'm looking at S&P PE ratio chart over time, and there is a large spike around 2008, and I'm trying to understand the reason for this change. Is it simply that earnings declined so sharply that P/E was quickly elevated?

For reference this is an example chart.

The Nightman
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1 Answers1

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Bank earnings specifically, but yes.

http://www.macrotrends.net/1324/s-p-500-earnings-history

Anon
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