U.S. consumer sentiment plunges to lowest since pandemic amid rising anxieties over tariffs

Consumer sentiment fell sharply in April, marking the fourth consecutive month of declines, as an intensifying trade war fueled anxiety over American jobs and rising inflation.

The University of Michigan's closely watched consumer sentiment index, released Friday, fell 11% to 50.8, the lowest since the depths of the pandemic.

"The further fall in the University of Michigan Consumer Sentiment Index in April along with the rise in both one- and five-year inflation expectations, suggests that the tariff-related fears which had soured sentiment over the past couple of months are here to stay," said Harry Chambers, assistant economist, Capital Economics, in a research note.