'Top of my list of worries': Why the stock market’s boom could become America’s biggest risk

The economy’s biggest risk may not be tariffs or private credit but the stock market itself, where roughly $9 trillion in equity gains over the past year have powered high-income spending that could quickly reverse if portfolios start flashing red instead of green. “The surge in stock prices is so key to the well-to-do who are driving consumer spending,” Mark Zandi, Moody’s Analytics chief economist, told Yahoo Finance on Friday. “If that gets turned into reverse and we see stock prices decline, then that ...