Wall Street has adopted a new strategy called tax-loss harvesting, aiming to reduce wealthy Americans' tax bills. This approach involves selling losing investments to offset gains from other trades, resulting in lower taxable income. While the goal is to minimize tax liabilities, critics argue that it may lead to market volatility and unintended consequences.

Source: https://www.bloomberg.com/news/features/2024-10-24/tax-loss-harvesting-wall-street-s-new-strategy-cuts-rich-americans-bills