U.S. media: The decline in U.S. stocks has caused Americans to lose nearly $ 10 trillion, and the rich losses are the largest.

According to the US Consumer News and Business Channel (CNBC) reported on the 27th, the decline in US stocks this year has led to more than $ 9 trillion in wealth, which puts greater pressure on the financial situation of many families.

The report quoted data from the Federal Reserve that at the end of the second quarter of this year, the company's company's stock and common fund shares shrank from a total market value at the beginning of the year to $ 33 trillion. As the major market indexes have fallen further since July, the losses in the bond market have further increased. Market experts say that wealth losses in the US financial market may reach 9.5 trillion to 10 trillion US dollars.

The Russian satellite news agency pointed out that $ 10 trillion is equivalent to 43%of the GDP in the United States (GDP), which is larger than GDPs in any country except the United States and China.

Economists told CNBC that this decline may soon begin to affect the entire economy, increase pressure on Americans' financial conditions, and may affect expenditure, borrowing and investment. Mark Zandi, chief economist of Moodle Analysis Company, said that these losses may reduce the actual GDP growth rate of the United States in the next year by nearly 0.2 percentage points.

New York Stock Exchange Source: Visual China

"If the current loss of stock market wealth continues, it will be resistant to consumer expenditures and economic growth in the future for several months." Zan Di said.

The report pointed out that the rich class in the United States bears the biggest loss because they hold too many stocks. According to the Federal Reserve data, the 10%richest people in the United States lost more than $ 8 trillion in wealth this year, which means that their stock market wealth has shrunk by 22%. The richest 1%of the people lost more than $ 5 trillion in stock market wealth. 50%of the bottom layer lost approximately $ 70 billion.

CNBC said that these losses marked the sudden frustration of shareholders who have gained a record wealth since the outbreak of the new crown pneumonia. From the low point of the stock market in 2020 to the peak of the end of 2021, the US stock market wealth has almost doubled -from $ 22 trillion to $ 42 trillion. According to the Federal Reserve data, most of the wealth flows to the richest people, because the 10%of the most richest people in the United States have 89%of their personal shares.

Zan Di believes that the loss of US stock market wealth may reduce the consumption expenditure of US $ 54 billion in the next year, but the "stock market wealth effect" is smaller than in the past, because the rich has a very large stock share and "accumulate during the epidemic period. A lot of excess savings ".

"Because their savings buffer is so large, they will not feel the need to increase savings when the stock market wealth shrinks." Zan Di said.

(Edit: ZLQ)

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