S&P 500 fell 70 basis points, and the Dow dropped over 300 points during a volatile session Monday, according to Benzinga. Venture capitalist Chamath Palihapitiya said the effect is confined to Wall Street’s wealthy investors, citing data that the top 10% of U.S. households own nearly 90% of equities. He claimed half of Americans “have zero interest” in the market. BlackRock CEO Larry Fink disagreed, saying over 60% of Americans now invest in equities and will feel the effects. Fink warned tariffs could freeze consumption. Journalists and analysts noted tariffs are triggering a pricing shock, impacting credit, jobs, and retail.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The S&P 500 fell 70 basis points and the Dow dropped over 300 points
00:06during a volatile session Monday, according to Benzinga.
00:09Venture capitalist Shamith Palapati said the effect is confined to Wall Street's wealthy investors,
00:15citing data that the top 10% of U.S. households own nearly 90% of equities,
00:20claimed half of Americans have zero interest in the market.
00:22BlackRock CEO Larry Fink disagreed, saying over 60% of Americans now invest in equities
00:27and will feel the effects.
00:29Fink warned tariffs could freeze consumption.
00:32Journalists and analysts noted tariffs are triggering a pricing shock,
00:36impacting credit, jobs, and retail.
00:38For all things money, visit Benzinga.com slash GSTV.