U.S. Household Net Worth Fell $1.2 Trillion in Last Quarter
Holiday shopping in New York City Anthony Behar—AP
Americans' total net worth declined by $1.2 trillion in the third quarter of 2015, falling from an all-time high of $86.4 trillion to $85.2 trillion, according to a new report from the Federal Reserve. While U.S household net worth is still at a high, the drop is one of the biggest losses since the end of the financial crisis.
In 2007, total U.S. household net worth stood at $66.5 trillion. Household net worth hit a low point in 2009, at $58.1 trillion.
The recent drop is due to stock market plunges in third quarter and may turn out to be fleeting, according to the Wall Street Journal.
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