Wall Street margin debt hits record $1.5 trillion as retail borrowing jumps

Borrowing against portfolios has climbed to new highs, with platforms like Robinhood reporting record margin balances, according to CNBC and FINRA data. Leverage can magnify gains but also trigger forced sales when markets fall.

• FINRA says total margin debt reached about $1.5 trillion in June.
• Robinhood’s margin book hit $21.6 billion in Q2, up 127% year over year.
• A Robinhood spokesperson denied targeting or encouraging risky margin trading.
• Investor Hy Luu’s Tesla-focused margin balance exceeded $156,000 after June trades.