Stock Rout Has Couples Taking Ax to $400,000 Wedding Budgets

Couples are cutting wedding budgets and delaying the event altogether in a sign that a sinking stock market and recession fears are causing a pullback on big purchases.

Wedding planner Alyssa Pettinato said that four of the 15 couples she’s working with in the New York area have recently trimmed what they plan to spend on their luxury nuptials. Last week, one couple told her to slash $75,000 from their $400,000 Manhattan wedding set for later this year.

Alyssa Pettinato, a wedding planner in New York, is seeing budgets for nuptials cut.

Source: Rebecca Ou

“They told me: ‘We don’t have the money because we’re hemorrhaging in our portfolio right now,’” said Pettinato, owner of Alinato ...