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On a relative and even absolute basis the wealthy will lose substantially more money.

On a personal quality of life basis the middle class will get hit the hardest. It will impact retirement timelines, vacations, home renovations, car purchases, etc. seeing their 401k go down will make them feel poorer and want to save more and thus reduce their discretionary spending and reducing the amount of fun and entertainment they enjoy.

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At most it will hit retirement timelines of anyone retiring in the next 5 years. Come on man. Most people don't hold cash for vacations in the stock market.

Anyone doing 60/40 isn't doing all that bad right now anyway. And this "market crash" (haha compare to '00 or '08) is on top of massive gains in the past few years.

this simply isn’t true at all. ignore the top 10%, the vast majority of americans do not have any real exposure to equities.

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