Stocks Cheapest in 26 Years as S&P 500 Falls, Earnings Rise

Stocks Cheapest in 26 Years as S&P 500 Falls, Earnings Rise

Jin Lee/Bloomberg

Traders work on the floor of the New York Stock Exchange in New York. The combination of China raising interest rates, concerns about a Greek default and the end of the Federal Reserve’s $600 billion stimulus program have almost wiped out this year’s gains.