American Wealth Lost $9 Trillion in Less than a Year to the Stock Market

Per CNBC

The holdings of corporate equities and mutual fund shares started out this year at $42 trillion. At the end of the second quarter, they dropped by $9 trillion down to just $33 trillion in total.

The FEDs noted that the top 10% of Americans, who own 89% of individually held stocks, lost $8 trillion in stock market wealth marking a total 22% decline. The bottom 50% was said to have lost $70 billion in stock wealth.