Highest recorded PE

Markets became unstable at PE above 28-30 and tend to undergo a long correction.

What is the highest PE recorded?

- in 2000, the S&P500 PE reached 40... this was followed by the dot com bust

- and in 2008, the PE reached 120... this was because the EPS was forcefully brought down but the price took a longer time to correct

Here is the chart

Source: https://www.macrotrends.net/2577/sp-500-pe-ratio-price-to-earnings-chart