When will the US stockmarket bubble burst?

With US stocks more expensive than before the Wall Street crash of 1929, there are growing signs of “mania”. But what will push markets over the edge?

Joe Biden
The Biden administration is about to add more fiscal fuel to the fire
(Image credit: © JIM WATSON/AFP via Getty Images)

Is the US stockmarket in “one of the great bubbles of financial history”? That is the opinion of Jeremy Grantham of asset manager GMO, who sees signs of mania everywhere from Tesla’s soaring share price to the surge in “blank cheque” companies, or special purpose acquisition companies (SPACs), says Jack Hough in Barron’s.

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Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.