U.S. Consumer Confidence Hits COVID-Era Low

U.S. consumer confidence fell sharply in April for the fifth month in a row, with the Conference Board’s index dropping to 86, its lowest reading since the early COVID-19 pandemic and a level often linked with recession. The decline is attributed to mounting concerns over President Trump's new and expanded tariffs, which have heightened fears of rising prices, recession, and potential job losses. Nearly a third of Americans expect fewer job opportunities in the next six months, a pessimism not seen since the Great Recession, and future income expectations have turned negative for the first time in five years. Inflation expectations have surged to 7%, the highest since late 2022, and worries span all age and income groups, fueled by the high cost of living and market volatility. Some companies have already begun reconsidering major retail and sales events in response to the gloomier outlook. Economists predict that these factors will lead to slower economic growth and weaker job gains in the coming months.