Poof, $9 trillion in wealth is gone…

• Americans’ holdings of corporate equities and mutual fund shares fell to $33 trillion at the end of the second quarter, down from $42 trillion at the start of the year.
• With major market indexes falling further since July, experts say losses from financial markets could total $9.5 trillion to $10 trillion.
• Economists say the drops could add pressure to Americans’ balance sheets and possibly hurting spending.

https://www.cnbc.com/2022/09/27/stock-market-losses-wipe-out-9-trillion-from-americans-wealth-.html