Here’s How Many Americans Own Stocks

Stocks have been hit hard. That’s cut into the wealth of a broad swath of Americans. 

More than 60% of Americans have money in the market, according to Gallup data from May, up from a bit above 50% in the middle of the last decade. That reflects comparatively large holdings among those with annual incomes at or above $100,000—but Gallup also found that about two-thirds of middle-income Americans, and a quarter of those with annual incomes below $40,000, were invested through some combination of stocks or funds. 

That tracked with data released in late 2023 by the Federal Reserve, which found that more than a third of families in the bottom half of the U.S. income distribution held stock—along with more than three-quarters of the upper-to-middle income group and 95% of the top decile.

Last’s week’s dramatic and downbeat market response to the Trump administration’s latest announcement on tariffs has led many investors, from Wall Street to Main Street, to wrestle with how to respond as they’ve seen their portfolios shrink.

A steep two-day drop-off left some waiting for the market to change direction and others who expect the drubbings to continue; Monday morning, stocks have whipsawed. (Follow Investopedia’s live coverage of today’s markets here.) 

About a fifth of Americans who invest in stocks believe they have a “high” risk tolerance, according to YouGov data released Friday, while about 40% said they generally maintain their investments amid economic or market uncertainty.

“Your brain has identified a risk and it’s screaming at you to run away. It’s working as intended. Otherwise, I’d recommend you get your head checked,” wrote Callie Cox, chief investment strategist at Ritholtz Wealth Management, in an emailed commentary. “Honor your natural tendencies, but don’t listen to them. In many situations, touching the hot stove isn’t the best solution.”