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The Nasdaq vs. Russell 2000 P/E Gap Questions Market Highs.

Should risk managers be on high alert?

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Bill Cara
Sep 17, 2025
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Bottom line: A deep dive into the P/E multiples of the Nasdaq, Dow, S&P 500, and Russell 2000 reveals a market driven by tech optimism, plagued by small-cap struggles, and questioning the sustainability of current highs.

Analyzing the Price-to-Earnings (P/E) multiples across four major US indices—the Nasdaq 100, the Dow Jones Industrial Average (Dow 30),…

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