Most Americans have started to reduce spending, according to a survey TD Ameritrade Holding Corp. of Omaha released last week.

Eighty-seven percent of respondents said they have tightened their belts, according to the survey, which Opinion Research Corp. conducted last month on TD Ameritrade's behalf.

The most commonly reduced types of spending were travel (58%), dining out (57%), and entertainment (53%).

Half of the respondents said they have cut back on gas and clothing.

According to the survey, most Americans do not expect stock markets to recover in the next six months. Also, 20% of the respondents said they do not expect a recovery within a year.

More than a third of the respondents said the presidential election will affect their investment choices over the next six to 12 months, TD Ameritrade said.

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