Jonathan Ernst/Reuters
Rep. Alexandria Ocasio-Cortez
- On Saturday, Representative Alexandria Ocasio-Cortez commented on a new high in the US stock market by saying that "the Dow soars, wages don't. Inequality in a nutshell."
- The representative may have a point: Nearly half of Americans don't own stocks at all, and the lion's share of stock ownership is concentrated in the wealthiest 10% of families.
- Business Insider put together six charts illustrating how the benefits of a booming stock market may not reach most working- and middle-class Americans.
- Visit Business Insider's homepage for more stories.
The US stock market has been on a tear for years, hitting several all-time highs in recent weeks. While this is certainly a good thing, the benefits of a booming stock market don't necessarily accrue to all Americans.
On Saturday, Representative Alexandria Ocasio-Cortez commented on an NBC News tweet noting the Dow Jones Industrial Average passing 29,000 for the first time:
Ocasio-Cortez has a point. As the following charts show, nearly half of American families own no stock at all, and the lion's share of stock market ownership belongs to households at the top of the wealth distribution.
The Dow soars, wages don't.
Inequality in a nutshell. https://t.co/hD1g1y4uBk
- Alexandria Ocasio-Cortez (@AOC) January 12, 2020