Consumer sentiment plunges to a record low amid tariff concerns

In the United States, consumer sentiment declined sharply in April, marking the fourth consecutive month of drops due to escalating trade tensions and concerns over inflation and employment. The University of Michigan's consumer sentiment index recorded a preliminary reading of 50.8 for April, a significant decrease from the previous month’s 57. This downturn represents the lowest level since the early days of the pandemic, indicating widespread worry among consumers about their financial futures. The interviews were conducted between March 25 and April 8, coinciding with market volatility as uncertainty around U.S. trade policy grew.