From the pandemic lows of March 2020 to the end of 2021, stocks had an incredible run.  Earnings were up but so too were P/E ratios.  As the market climbed, many warned that valuations had become unjustifiably high.  With the S&P 500 down nearly 20% , P/E ratios have returned to their historic average leaving many investors wondering, is the worst behind us?  Before taking that leap take, look at our latest video on what the drop in P/E ratios means for the market.