The U.S. stock market has experienced declines, with the S&P 500 forward price-to-earnings (P/E) ratio falling to 18x, its lowest level since late 2023. The S&P 500 Information Technology Sector's P/E ratio has also dropped to 21.5x, marking its lowest point since early 2023. Several major technology companies have seen their forward P/E ratios decline amid market volatility. Nvidia's forward P/E is now at 16.6, with a PEG ratio of 0.78 and a price-to-sales ratio of 18.7x. Alphabet's forward P/E stands at 14.2, Amazon's at 22.5, Apple's at 21.7, Meta's at 17.7, AMD's at 12x, and Microsoft's at 23.7. Tesla's forward P/E remains significantly higher at 61.6. The market downturn follows tariff announcements that have triggered global recession fears, leading to a sell-off in equities. The S&P 500 has dropped 9.1% over the past week, while the Nasdaq index fell 9.9%. The Russell 2000 and Nasdaq 100 have entered bear markets, with the S&P 500 losing $10 trillion in market capitalization since its February peak.