Consumer confidence dropped this month as Americans expressed growing concerns over tariffs, slumping markets, and a potential recession, according to survey results released Friday.
The University of Michigan’s Consumer Sentiment Index reported confidence fell 10.5% percent to 57.9, marking the lowest level for the index since November 2022.
Companies have also noted a shift in consumer behavior, warning investors and retailers that first-quarter sales are weaker than expected and the rest of the year may fall short of projections.
Concerns rattled the commodity market Friday, pushing gold to a record $3,004.86 per ounce, up 14% this year as investors seek a safe haven.
