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Analysis: An end to the Iran war may be just the beginning of a new era of U.S. inequality
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Analysis: An end to the Iran war may be just the beginning of a new era of U.S. inequality

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A driver refuels a vehicle with regular gasoline at a Shell gas station in Hercules, California, May 21, 2026. David Paul Morris | Bloomberg | Getty Images For some Americans' finances, the Iran war was over almost as soon as it began. Those with access to stocks β€” a majority of Americans have some, though the ultrawealthy have most β€” saw the S&P 500 dip about 8% when the war started, only for it to bounce 19% starting in late March, more than making up its losses. The index is now up 10.7% for the year, which if it held would make for the fourth consecutive year of double-digit stock increases. President Donald Trump has been quick to trumpet these gains. "We have 401(k)s at their all-time high, highest they've ever been, and that goes along with the stock market, which is the highest it's ever been," Trump said at a televised Cabinet meeting this week, repeating a refrain he has adopted to celebrate market wins.…

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