The net worth of the Americans fell at the highest level since the financial crisis in the fourth quarter of 2018, when moving stock prices hit the household balance.
Much of the slide came because of Wall Street's woes, as the stock market had a rainfall that began in October and shortly reached bark market status. fearing that the Fed would continue to raise interest rates even when economic conditions began to worsen.
When the market declined in late December, households saw $ 4.6 billion worth of equity value, which was offset by an increase in property value. $ 300 billion. Overall, was the second highest q usteric dollar fall since the Federal Reserve began tracking the statistics.
Overall, financial assets of over $ 85 trillion at the end of the year while real estate were The dollar was $ 29.2 billion.
Households' net worth have risen sharply since the crisis and are up 73 percent since 2009.
Having left their worst Christmas Eve in history, the stocks saved a turnaround time and finally their best two months in a year ago at least 1
The fall in net value came in the quarter when GDP rose 2.6 per cent, according to a first estimate. It was part of a year that saw growth close to 3 per cent despite a weak period for the financial markets. Economists largely expect 2019 to start with little growth in the economy, as the Atlanta Fed sees GDP up by only 0.5 percent.
CNBCs Steve Liesman contributed reporting.