(The Hill) -- Dramatic market shifts this year amid President Donald Trump's fluctuating tariff policies and growing recession fears have taken a toll on retirement accounts, according to a first-quarter investment analysis released Thursday.

Fidelity Investments, the largest provider of 401(k) plans in the U.S., found average 401(k) balances fell 3 percent, hitting $127,100, even as savings rates rose, and the average individual retirement account (IRA) balance fell 4 percent to $121,983.

Fidelity said the slumps were "primarily as a result of market swings."

"Although the first quarter of 2025 posed challenges for retirement savers, it’s encouraging to see people take a continuous savings approach which focuses on their long-term retirement goals," Fidelity head of workplace investing

See Full Page