Harris Poll Finds 2 in 5 Americans Say Stocks Serve Only Top 1%
Updated
Updated · The Guardian · Jul 21
Harris Poll Finds 2 in 5 Americans Say Stocks Serve Only Top 1%
1 articles · Updated · The Guardian · Jul 21
Summary
Two in five Americans said the stock market is not for them and mainly benefits the top 1%, according to a Harris Poll of 2,154 U.S. adults conducted July 9-11.
Nearly 40% did not know the economy and stock market are different, and two-thirds wrongly believed a rising market means the overall economy is growing.
That disconnect comes as markets keep climbing despite economic strain: the Dow is up 9% this year and the Nasdaq 12.5%, while half of all stock ownership is held by the top 1% and the bottom 50% owns 1%.
Perceptions remain bleak even with record highs, with half of Americans calling the market weak or saying they were unsure, while 60% said the same about the U.S. economy.
Risk appetite is also shifting: one-third said gambling could deliver higher returns than today’s stock market, rising to 46% among millennials and 44% among Gen Z.