U.S. consumer confidence plunged to the lowest level in more than four years in March, with households fearing a recession in the future and higher inflation because of tariffs. The Conference Board said on Tuesday that write-in responses to the survey showed "worries about the impact of trade policies and tariffs in particular are on the rise,

Consumers expect prices to rise at an annual rate of 3.9% over the next five to 10 years, up 0.4 percentage point from the prior month and the highest in more than three decades. They saw costs rising at an annual rate of 4.9% over the next year, up from 4.3% and the highest since 2022.