Fear of Trump's trade war sends US consumer sentiment plunging

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The story "Fear of Trump&#039;s trade war sends US consumer sentiment plunging" was covered 5 days ago by Business Standard, a news publisher based in India.

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Fear of Trump's trade war sends US consumer sentiment plunging - Business Standard

Quick Summary:

US consumer sentiment plunged in April, the fourth consecutive month of declines, in a seemingly sharp rebuke of President Donald Trump's trade wars that have fuelled anxiety over possible job losses and rising inflation.

The preliminary reading of the University of Michigan's closely watched consumer sentiment index, released Friday, fell 11 per cent on a monthly basis to 50.8, the lowest since the depths of the COVID-19 pandemic.

The share of respondents expecting unemployment to rise in the coming months increased for the fifth straight month and is now the highest since 2009 during the Great Recession.