Nearly $4 trillion net worth fall in American household in fourth quarter
The net worth of American households plunged by more than $3.7 trillion in the fourth quarter of 2018 as sharp drops in the stock market dealt a blow to their wealth.
Americans' wealth totaled $104.3 trillion at the end of the period, down 3.5 percent from the end of the third quarter. The total was still up 0.8 percent from the end of 2017.
The decrease snapped a streak of 12 straight quarters of increases in the total net worth of American households, which last declined in the third quarter of 2015.
The data, released Thursday by the Federal Reserve, revealed that American investments in corporate equities fell by $4.6 trillion during the fourth quarter. Americans' real estate wealth increased by $300 billion.