US consumer sentiment fell to one of the lowest readings on record and long-term inflation expectations climbed to the highest since 1991 on fears of the economic fallout from tariffs.

Expectations fell across the board, but the decline was particularly prominent among middle-income families. Prices remain a top concern.

Consumer sentiment nosedived in April to the lowest level since the peak of the post-pandemic inflation surge as President Trump’s trade battles shake the global economy. Sentiment dropped