$5 trillion ‘wealth shock’ is cracking Americans’ nest eggs
Households had piled up an extra $38.5 trillion in wealth over the last two years, but since the start of this year, wealth has plunged at least $5 trillion, JPMorgan Chase estimates.
The world’s richest nation is waking up to an unpleasant and unfamiliar sensation: It’s getting poorer.
Americans’ collective net worth had been climbing at a dizzying rate for the past two years, even as families and businesses contended with the ravages of Covid-19. Households piled up an
Learn more about reprints and licensing for this article.
