How low must stocks go to reach levels where investors get a grip? It's the question on every trader's mind as the U.S. market continues its wild daily swings. Although the S&P 500 is roughly flat for the year, it's fallen more than 7 percent over the past three months.Investors can't seem to decide if shares are cheap enough to own. So many things make the calculation hard, from U.S.-China trade to rising interest rates and worries about a recession. "In the short run, these valuations are attractive-longer run, it's a little tougher to see," says Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC. "At some point the economy is going to slow."
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