Description
CNBC reported that Americans' holdings of corporate equities and mutual fund shares fell from $42 trillion at the beginning of the year to $33 trillion at the end of Q2 2022 — a $9 trillion drop.
Further precipitous drops observed since July in major market indices (e.g., the S&P 500 stock index is down 23%) as well as in the bond market (bond market index funds are down 15% this year) put estimates of wealth loss from financial markets between $9.5 trillion and $10 trillion.
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