Question: Have the stock market levels on the different markets supassed the highs they had before the crash in 1999.? 

Answer: The answer is not even close.  Before the tech crash stocks were grossly over priced with was made evident by the huge P/E ratio's of the tech industry.  Greenspan and others warned of the overvalued market then.  Some analyists warned of overvaluation about a month ago and some correction is happing right now.
This question from the Yahoo Q&A forum is categorized in the topic: Business & Finance