US consumer sentiment tumbles as trade war fears grow | Business and Economy

United States consumer sentiment plunged in April, marking the fourth month in a row of declines – widely seen as a pointed reaction to President Donald Trump’s escalating trade wars, which have fuelled concerns over potential job losses and rising inflation.

The preliminary reading of the University of Michigan’s closely watched consumer sentiment index, released Friday, fell 11 percent in March to 50.8 percent, the lowest since the depths of the COVID-19 pandemic. Over the past year,…