Deep stock market selloff makes 401(k) investors nervous

Are nervous consumers who complain all the way to the supermarket ready to call it quits?

Is inflation prompting them to reconsider how often they open their wallets? If so, are we closer to a recession than some might have imagined several months ago?

Or are consumers in good shape and simply spending more now on vacations, home renovations and a variety of services and spending less on many of the things they were buying during the pandemic at retailers like Target, Walmart and Amazon?

It’s been a brutal week for 401(k) plans as Wall Street faced steep and troubling losses fueled by inflation issues and recession concerns.

This is the eighth straight week that the Dow Jones Industrial Average has posted losses, the longest weekly losing streak since 1923.

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