Inflation Panic Sends US Consumer Confidence To All-Time Low: University Of Michigan

Confidence among American consumers has never been this depressed in the history of the University of Michigan survey. The preliminary April consumer sentiment index crashed to 47.6 — an all-time record low, an 11% monthly plunge and a sharp miss against the 52 consensus — as the Iran war’s economic fallout spread from the gas pump into households’ broader outlook on their finances, jobs and the future. Chart: Worst…