Warren Buffett's Berkshire Hathaway said first-half revenues fell 39% at Squishmallows' parent company and 12% at Fruit of the Loom as tariffs loomed.

The cyclically adjusted price-to-earnings (CAPE) ratio is a valuation metric typically used to gauge whether entire stock market indexes are overvalued or undervalued. It was developed by Nobel-winning economist Robert Shiller during the dot-com bubble, so it is sometimes referred to as the Shiller P/E ratio.