Wall Street's Big Selloff Puts Pressure on U.S. Households

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Known as the “wealth effect, people tend to spend when assets are buoyant and save when they're not. Related StoriesRobinhood to Pay $26M to Settle FINRA AllegationsTrump's On-Again, Off-Again Tariff Strategy Sows ConfusionProtective Life to Reinsure $9.7B in Life and Annuity Reserves

Known as the “wealth effect, people tend to spend when assets are buoyant and save when they're not.