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Household net worth hits new record of $123.5 trillion amid stock market surge

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A man holds a wad of U.S. hundred dollar bills.Supoj Buranaprapapong | Getty ImagesDespite a continuing pandemic and fears of an economic slowdown ahead, the net worth of U.S households has hit a fresh record.Total American net worth rose to $123.5 trillion in the third quarter, according to Federal Reserve figures released Friday. That’s an increase of $3.8 trillion, or 3.2% from the second quarter. It’s up 7.6% from the same period a year earlier.Much of the increase came thanks to a volatile but robust rally on Wall Street, which pushed the value of U.S. personal equity holdings up $2.8 …

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