The stock market's record-high margin debt is keeping Wall Street pros up at night

U.S. margin debt held by brokerage firms reached a record $1.50 trillion in June 2026, prompting concern among Wall Street professionals and risk managers about the sustainability of recent stock market gains. The Financial Industry Regulatory Authority data shows margin balances remain elevated above $1.45 trillion as of late 2026. Analysts worry that heavy use of leverage to purchase stocks could amplify losses if markets decline.