Stock market losses have wiped out more than $9 trillion in wealth from U.S. households.
Falling stock markets have wiped out more than $9 trillion in wealth from U.S. households, putting more pressure on family balance sheets and spending.
Economists say the drops could soon start rippling through the economy, adding pressure to Americans' balance sheets and possibly hurting spending, borrowing and investing. Mark Zandi, chief economist of Moody's Analytics, said the losses could reduce real GDP growth by nearly 0.2 percentage points over the coming year.Brendan McDermid | Reuters
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