S&P 500 in Cheapest Bull Market Since Reagan Trade 26% From Peak

S&P 500 in Cheapest Bull Market Since Reagan Trade 26% From Peak

Victor J. Blue/Bloomberg

Concern about the so-called fiscal cliff -- $607 billion of spending cuts and tax increases that automatically go into effect Jan. 1 -- overshadowed better-than-estimated profit reports from Cisco Systems Inc. and Home Depot Inc. last week, sending the S&P 500 down 1.5 percent to 1,359.88.