There's loads of things to worry about if you are a bear such as valuations, China, US yield curve flattening, economic woes in Europe, the recent collapse in freight rates etc. Here is an apt summary of these views from the pro's:
Things to Worry About as a Bear
Should You Pick Eli Lilly Stock After A 4x Rise In Three Years?
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This can primarily be attributed to a significant 236% rise in the
company’s P/S ratio to 21x now, versus 6x in 2020.
10 minutes ago