Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.
Some $6.6 trillion of that figure was lost on Thursday and Friday alone — the largest two-day wipeout of shareholder value on record, Dow Jones data showed.
The top 10% wealthiest Americans own over 90% of stocks…
https://markets.businessinsider.com/news/stocks/stock-market-ownership-wealthiest-americans-one-percent-record-high-economy-2024-1?op=1
I do feel bad for the people who left their 401k in the market instead of government securities. trump has been saying he’d do this dumb shit since the campaign.
Not exactly sure how one is supposed to transfer one’s 401k to government securities on such a short timescale…