(STUDY FINDS) — NEW YORK — Investing in the stock market has always come with a certain amount of risk, but there is also potential to for big earnings and financial stability later on in life. According to a recent survey of over 1,000 Americans, it seems more and more people are becoming wary of the market and its volatility: 60% of respondents said they feel anxiety when considering whether or not to invest in stocks.
The survey, commissioned by MagnifyMoney, was equally proportioned among respondents to accurately represent baby boomers, millennials, and generation Xers.
So, why are Americans becoming so scared of Wall Street? The most prevalent answer was fear of a sudden recession or downturn in the market; 61% of respondents said they hesitate to invest due to fear of a potential market crash. Interestingly, different generations seem to be more nervous than others: nearly 72% of millennial respondents said they worry about a stock market crash, compared to 56% of gen Xers and 55% of baby boomers.