Chris Harvey, Wells Fargo Securities Head of Equity Strategy, has been on CNBC multiple times over the past month discussing his concern that weakness in cryptocurrencies could spill over into the equity markets. He believes that if risk is priced aggressively in one part of the market then it should be priced aggressively in other parts. If they have similar financial ratios their valuation metrics tend to be close to each other’s. You will tend to see the high growth company have higher valuation metrics than the slow growth one. The NASDAQ had a steady climb the past year, as did most of the equity markets.

Source: Forbes January 20, 2018 18:56 UTC