Consumer Confidence Plunges to 10-Year Low on Fears of Inflation, Unemployment, Financial Woes

U.S. consumer sentiment fell sharply in early August, with the University of Michigan confidence survey plumbing depths not seen in a decade as Americans expressed worry about personal finances, unemployment, and inflation. The survey, released on Aug. 13, showed that the consumer sentiment index plunged from July’s reading of 81.2 down to 70.2, hitting a level not seen since 2011. The 13 percent slide was one the sharpest in percentage terms in the past 50 years, exceeded only by an 18.1-...