Less than a decade ago companies reaching 1 trillion was still every much "out there". Now we have an IPO at almost 1 trillion.
It's clear that the stock market cannot be considered normal anymore, held up on hopes at prayers at best.
Well, it's still VC market right now, and all the investors have vetted interest into the music not stopping.
Sure it can. The value of the dollar coincides with stock market valuations.