This drop in expected earnings is what you are seeing price declines given the P/E ratio valuation of most stocks.Industries most hit will be retail, food service, manufacturing, hospitality and travel.

I work in the PE industry and have been flipping properties for the last couple of years.

No offence but have you actually worked for or with a PE company?

My wages are not going up as a parochial school PE teacher.  

PE teacher and personal trainer in NYC.

The latter wasn't part of my original plan but people keep knocking on my door asking how to underwrite, paying me to consult that we're just going ahead and providing a service at the same level as investment banks/hedge funds/PE firms. 

The P/E of the big techs range from frothy to insane.

It is sort of like a P/E ratio for housing.

Take a look at some PE firms, REITs, large development companies, do they don’t use leverage and pay off all their loans 100%?

Without a couple of licenses under you it is impossible to take notice by anyone,  Many architects carry PE license also with a more technical background.