AP: Stocks Are Soaring, and Most Black People Are Missing Out

Americans who own stocks are pulling further away from those who don't, as Wall Street roars back to record heights while much of the economy struggles.

  • Published
Banking executive Bob Marshall, an active stock investor, poses for a photo at his home in Ashburn, Va., Friday, Aug. 7, 2020. Nearly half of all U.S. households don’t own any stocks, and a disproportionate number of them are from Black and other racial-minority households. Differences in financial-literacy education may be one factor, Marshall said. Or, because fewer Black families have wealth that has carried through generations, they may be more wary of risky investments. (AP Photo/J. Scott Applewhite)
Image via AP Photo/J. Scott Applewhite

This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

NEW YORK (AP) — Americans who own stocks are pulling further away from those who don’t, as Wall Street roars back to record heights while much of the economy struggles. And Black households are much more likely to be in that not-as-fortunate group that isn’t in the stock market. Only 33.5% of Black households owned stocks in 2019, according to data released recently by the Federal Reserve. Among white households, the ownership rate is nearly…

Read at AP News