This Bull Is Like the Tech Bubble, but Different

Traders at the New York Stock Exchange react as the Dow Jones Industrial average breaks 10,000 on March 16, 1999 Photograph by Michael Paras/Bloomberg

No one on the street would confuse today’s bull market in stocks with the zeitgeist-driving one that ripped through the 1990s. Business magazines no longer resemble phone books. Hotel rooftops aren’t being annexed for balance sheet-burning launch parties. But there are increasingly parallels.

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