【Investors Question Valuation, US Stocks Decline for the Fourth Consecutive Day】Golden Finance reports that US stocks have fallen for the fourth consecutive day as investors question high valuations amid a flurry of retail earnings disclosures and the upcoming central bank annual meeting. The S&P 500 index fell by 0.7%, while the Nasdaq dropped over 1%. "Compared to the fundamentals, stock valuations are very expensive," said Howard Marks, co-chairman of Oak Tree Capital Management, in an interview. "The market hasn't seen a severe correction in 16 years, and people are gradually getting used to not considering market corrections." Apollo Management's Chief Economist Torsten Slok pointed out in a report on Wednesday: "Consumer spending is under pressure due to slowing job growth, the resumption of student loan repayments, and an increase in evictions leading to a reduction in the consumer base."