The pandemic, the supply chain, the war in Ukraine, inflation.
Just a few of the factors that have been driving the price of stocks down over the last several years and while the stock market is not a direct measure of the strength of the economy, there is no doubt the market has a psychological effect on how many Americans view the economy and their own wealth.
Millions of Americans have money invested in the stock market. Some own stocks they have picked themselves, or with the help of a financial advisor, but even more have money invested in the markets through retirement accounts, like 401Ks.
If you do have money tucked away in a retirement account, chances are you have seen a big drop in its value since 2020. If you handle the loss the way you are supposed to; you are aware of the decrease in value, but you are not overly concerned. Experts always tell us "you invest in the markets for the long term and if you do, you always come out on top." In other words, the American stock market is a good bet.
At 11 Wall St. in New York City stands one of the temples of American capitalism. The New York Stock Exchange. It is adjacent to Trinity Church. Alexander Hamilton is buried in the graveyard next to the church.
Though most people probably don't understand exactly how the markets work, or how to make their investments, it is clear that many understand the importance of the stock exchange and when they visit New York they stop by to take a picture with the statue of the bull or the little girl facing the building and possibly take a tour.
Like the rest of New York City, the financial district is a routine of life for those who work there and a curiosity for everyone else. What happens on Wall St. has the potential to fatten or lighten the wallets of every American. That is something everyone understands.
Credits:
© Dean Pagani