Coronavirus uncertainty muddies views on buying opportunities for plunging stocks
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NEW YORK (Reuters) - U.S. stock valuations are tumbling in the wake of the coronavirus-fuelled market rout, but determining when equities are cheap enough to buy is a tricky proposition.The S&P 500's price-to-earnings ratio, based on earnings estimates for the next year, has dropped from over 19 in late February to 14.2 as of Wednesday, according to Refinitiv data. The decline in forward P/E marks a drop from the highest level since about mid-2002 to a level below the index's historic..