Reported about 20 hours ago
The recent surge in the stock market, which has added about $9 trillion in equity gains, may be the largest threat to the US economy, as high-income households increasingly drive consumer spending. If stock prices begin to decline, it could significantly impact consumer behavior and spending power, leading to a potential economic downturn. The disparity between high- and low-income consumers is becoming more pronounced, with affluent consumers remaining strong while lower-income households face financial strain. This precarious position raises concerns about the overall stability of spending as consumer sentiment shifts.
Source: YAHOO