Inequality Soared During Pandemic

“The wealthiest 10% of Americans now own 89% of all U.S. stocks, a record high that highlights the stock market’s role in increasing wealth inequality,” CNBC reports.

“The top 1% gained more than $6.5 trillion in corporate equities and mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added $1.2 trillion… The share of corporate equities and mutual funds owned by the top 10% reached the record high in the second quarter, while the bottom 90% of Americans held about 11% of stocks, down from 12% before the pandemic.”