Consumer Sentiment Plummets: Gas Prices & Stock Market Turmoil
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Consumer sentiment plummets to lowest level since December, with University of Michigans index at 53.3. Middle and higher income individuals, particularly those with stock investments, feel the brunt of soaring gas prices and volatile markets due to the Iran conflict. Oil prices surge over 30% since late February attacks, pushing retail gas prices to $3.98 per gallon. Stock market selloff looms, threatening to further dampen consumer spending. Short-term inflation expectations rise to 3.8%, indicating tougher economic times ahead.
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