The net worth of American households dropped by $6.1 trillion in the second quarter of 2022, triggered by a decline in the stock market, according to a latest report by the Federal Reserve.
Total net worth of households and nonprofit organizations at the end of the second quarter was at $143.8 trillion, according to the Financial Accounts of the United States report. This is the second straight quarterly decline, having earlier fallen to $149.9 t trillion in first quarter 2022, from $150.01 trillion during the last quarter of 2021. In the household balance sheet, the value of stock holdings declined by $7.7 trillion, while real estate value jumped by $1.46 trillion….