Monday, March 15, 2021

American wealth relies on stocks, funds like never before

Americans’ wealth is more at the mercy of share-price swings than ever before as a bull market unfolds, according to one barometer. Stocks and mutual funds accounted for a combined 34.4% of U.S. households’ financial assets at the end of last year, according to data released Thursday by the Federal Reserve. The percentage was the highest since the quarterly figures were first compiled in 1946. The record was highlighed by Paban Raj Pandey, editor of the financial blog Hedgopia, in a Twitter post Friday.

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