U.S. consumer sentiment fell to 50.8% in early April, the lowest since June 2022, marking four straight months of decline and a 30% drop since December.

Inflation expectations surged, with one-year outlooks hitting 6.7%—the highest since 1981—and five-year expectations rising to 4.4%.

The University of Michigan cited growing recession fears, with expectations for rising unemployment at their highest since 2009, Market Watch has reported.

Markets remained volatile amid tariff concerns, though the survey concluded before Trump’s tariff announcement.

Written by B.C. Begley