The deep declines in the U.S. stock market over the last three weeks has left a dent in retirement portfolios and brokerage accounts, costing on average each person in the United States around $16,000 as of Monday’s close before a rebound Tuesday erased some of those losses. Americans are mostly exposed to stocks via their 401(k) retirement plans. According to an analysis of 2016 Federal Reserve data by Edward Wolff, an economics professor at New York University, 84% of stocks owned by U.S. households are owned by the wealthiest 10% of Americans. …read more
Source:: Yahoo Finance
