Why are post covid investors like this ? Stop paniking

Look, There are stocks that had 50-200% YoY growth this year, and they are falling 40-50% or even more. Dont talk about valuation, many of them are at 10-25 times earning. This is nothing, while companies in the US quoting at 50-500 times earnings, and nobody seems to care. What is wrong with these post covid people ? And also people on this sub. Why are you people so bearish when things are nowhere that bad on ground. Markets weren't this irrational back in 2013-2019. We didn;t rise much but good companies were not punished, and PE ratio actually mattered. Do you want to push stock below 10 times earnigs ? Thats insane. We might get a huge huge rally in the coming year if this happens. Small caps have grown 10-100x as well. Some of them.