Generational Theory refers to them as a “Nomad” generation, analagous to the more literally named “Lost Generation” one sacculum prior.
Generational theory is not scientific, but the patterns it identifies are certainly interesting. It’s held up over the last 30 years, and seems to be continuing.
To the wealthy, volatility is opportunity. Yeah, the market will go down for a while, and later it’ll go back up. Billionaires will cash in both ways.