Americans’ wealth is dropping, says Federal Reserve

Americans’ wealth continues to drop.

CNN— Americans’ wealth continues to drop.

According to data from the Federal Reserve released Friday, the net worth of households and non-profit organizations decreased to $143.3 trillion in the third quarter. That’s a loss of $400 billion.

However, it’s not as bad as the second quarter loss, when Americans’ wealth plummeted more than $6 trillion.

The decline is said to be driven primarily by a drop in stock prices. The value of households’ stocks has reduced by nearly $2 trillion.

While Americans’ real estate holdings increased in value by $700 billion.

Categories: National News, News