Rex Nutting: Americans are feeling poorer for good reason: Household wealth was shredded by inflation and Fed tightening

U.S. households’ real wealth plunged at a record 20.9% annual rate to $143 trillion in the second quarter of the year, with modest gains in home values offset by high inflation and a big selloff in the stock market SPX, +1.53% DJIA, +1.19% COMP, +2.11%, according to data released Friday by the Federal Reserve and analyzed by MarketWatch. In current-dollar (or nominal) terms,…