The deep declines in the U.S. stock market over the last three weeks has left a dent in retirement portfolios and brokerage accounts, costing on average each person in the United States around US$16,000 as of Monday's close before a rebound Tuesday erased some of those losses.
Around 42per cent of the working-age population with a full-time job has a 401 or similar plan, and those funds are overwhelmingly invested in stocks, according to U.S. Census data. Approximately 55per cent of Americans reported that they owned stock in April 2019, down from the average 62per cent who reported owning equities in surveys conducted between 2001 and 2008, according to Gallup data.
During Monday's market rout, individual investors turned to technology companies such as Apple Inc , Microsoft, and Amazon, according to data from Fidelity. Walt Disney, meanwhile, had more than 5,000 buy orders through the brokerage firm compared with 1,094 sell orders.
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