Stock plunge shakes confidence of higher-income Americans

Inflation has been eating into the wage gains of ordinary Americans for more than a year, souring them on the economy. Now, the wealthy are just as pessimistic.

Consumer sentiment has plunged to levels not seen since the 2008 financial crisis, down more than 40 percent over the past 12 months, according to one closely watched survey. Another poll found that the number of people who feel positively about the economy has dropped 20 percentage points since September — driven down by wealthier people who had thrived

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