The wealth of American households has declined for the first time since the pandemic began, due to a $3 trillion stock-market wipeout
Overall, household balance sheets were still $39 trillion above pre-pandemic levels, the Fed data showed.
The wealth of US households could continue getting hit by the stock markets in the second quarter of 2022 as equities remain weak. The S&P 500 fell 5% in the first quarter of the year and is down 16% this year so far. The Nasdaq 100 fell 9% in the first quarter and is down 26% year-to-date.here refers to a household's total assets, minus any liabilities or debts. The Fed's report is released quarterly.
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