U.S. margin debt hits record $1.1 trillion — every spike like this has ended in market disaster

Margin debt just exploded to a record $1.13 trillion, the highest in U.S. history, FINRA data shows. Every previous surge like this — 2000, 2007, 2021 — ended in a market crash. Debt jumped 18% in one quarter, fastest since 1998, as Wall Street bets on borrowed money hit extremes. Analysts warn were in the “everyones rich on credit” phase. The S&P 500 sits near record highs, but leverage is flashing danger. Margin debt spikes have never ended softly.