币界网报道：According to the latest data from Bijie.com on July 3, the key indicator for measuring the valuation of US stocks, the "Buffett Index", has soared to 205%, a record high. This value exceeds the levels during the Internet bubble and the 2008 financial crisis, indicating that the market valuation is extremely overvalued. At present, the total market value of US stocks has exceeded twice the country's GDP. Although the indicator indicates that there may be a market bubble, the market reaction is relatively flat. As of the opening of trading in the second half of 2025, the Dow Jones Industrial Average rose 426 points (1%), the S&P 500 index was basically flat, and the Nasdaq Composite Index fell 0.6%. Funds shifted from technology stocks such as Microsoft and Nvidia to medical stocks such as Amgen, Merck, and UnitedHealth, the latter of which rose nearly 3%, and Johnson & Johnson also rose nearly 2%. The extremely high level of the Buffett indicator indicates that the market may face the risk of adjustment, and investors and analysts are closely watching future trends. The next few months will be a critical period to test whether the market can maintain its current high valuation or usher in a correction.