Comment Comment by cs702 Those weasel words you highlight, "believed by many," betray that there is no consensus on the precipitating factors.FYI, the Fed raised rates by more in the early to mid-1990's than in the late 1990's: https://fred.stlouisfed.org/series/FEDFUNDSThe precipitating cause wasn't valuation or rates. It was a seemingly sudden change in the mindset, motivations, fears, finances, decisions, and behavior of stock buyers and sellers. parent cs702 1 day ago
FYI, the Fed raised rates by more in the early to mid-1990's than in the late 1990's: https://fred.stlouisfed.org/series/FEDFUNDS
The precipitating cause wasn't valuation or rates. It was a seemingly sudden change in the mindset, motivations, fears, finances, decisions, and behavior of stock buyers and sellers.