Misfiring Wall Street Wealth Machine Is Anxious Omen for Economy (Bloomberg) -- Wall Street traders this week were hit by the biggest cross-asset losses since the Federal Reserve’s monetary-tightening campaign peaked in 2023. Blame tariffs, softening growth, a pote...

The #Top10% account for HALF of #USConsumerSpending and own HALF the #stock. #WealthEffect will reverse markedly and quickly if #StockMarket keeps responding to #Trump deranged plans and execution. US #TotalNetWorth gain since '22 driven by rich folks' stock holdings. (Bloomberg story, no paywall)