Justin Fox, Columnist

This Party Is Like 1999, But Better

Stocks are almost as expensive as during the dot-com bubble, but with a key difference.

October 13, 2025 at 9:00 PM UTC

Justin Fox is a Bloomberg Opinion columnist covering business, economics and other topics involving charts. A former editorial director of the Harvard Business Review, he is author of “The Myth of the Rational Market.”

Oh yeah!
Photographer: Spencer Platt/Getty Images North America

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After falling sharply on Friday in response to yet another tariff announcement from President Donald Trump, stocks returned this morning to their usual activity — going up. Whether that rebound will continue for the rest of the week is anybody’s guess; John Authers has a rundown of the conflicting short-term drivers.