Bloomberg Intelligence's 'Equity Market Minute' 6/01/2022

Gina Martin Adams discusses the elusive technical signs of capitulation in the S&P 500 despite a 20% market drop. She highlights fundamental capitulation, showing that the stock bubble has burst. Valuation multiples in the S&P peaked at over 31 times trailing earnings a year ago, dropping to 16.3 times at the recent low, similar to the 1999-2002 bubble burst but at a faster pace. Deep value has emerged, with 17% of S&P 500 constituents trading at low multiples. While not as evident as in 2018 or 2020, capitulation signs are nearing. The video concludes with thanks for joining the equity market minute by Bloomberg Intelligence.

What comparison is made between the current market situation and the bubble bursting from 1999 to 2002?

What evidence of capitulation is noted in the text regarding the years 2018 and 2020?