Reported about 21 hours ago
This article explores how the concentration of stock ownership among wealthy Americans significantly impacts consumer spending in the U.S. It highlights that the top 20% of income earners control the majority of stocks and notes that the wealth effect, where rising stock prices increase confidence and spending among these top earners, is crucial for the economy. A decline in stock values may lead to reduced consumer confidence and spending, particularly as the highest earners account for half of all consumer spending.
Source: YAHOO