Wealthy investors are more pessimistic about the stock market than they were last year, according to a survey by PNC Wealth Management.

The Wealth and Values survey found that while 51% of wealthy investors were upbeat on the market last year, that figure has dropped to 40% this year, while pessimistic respondents now number 34% of the survey population, up from 28% in 2009. Optimism about the U.S. economy fell from 37% to 23% year over year and only 15% of wealthy investors anticipate near-term growth in real estate prices.

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