US Household Net Worth Falls on Drop in Value of Stock Holdings

US household wealth declined in the third quarter by the most in a year on a drop in the value of stock holdings.

Household net worth decreased $1.3 trillion, or 0.9%, in the period to almost $151 trillion, a Federal Reserve report showed Thursday.

The value of equity holdings fell about $1.7 trillion in the third quarter, while the value of real estate held by households rose slightly to a record high.

The S&P 500 retreated in the third quarter for the first time in a year on concerns about the economic outlook in the wake of the Fed’s interest-rate hikes.

US Household Net Worth Falls on Lower Stock Buildings