Individual Investors Pile Into Cash, Chasing Higher Returns

Retail assets in money-market funds sit near records and demand for CDs climbs

Morgan Stanley equity strategist Michael Wilson predicts the S&P 500 will fall 25% from its current levels this year. WSJ’s Dion Rabouin explains why his extreme projection could be right. Photo Composite: David Fang

Andrew Hipple recently started trimming his stockholdings after learning from finance influencers on TikTok that cash and cashlike funds are providing the highest yields in more than a decade.

Mr. Hipple, a 27-year-old accountant in Lancaster, Pa., said he has shifted money into a stable-value fund and a high-yield savings account to guard against potential losses in the stock market. 

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