US consumer sentiment slides to lowest in 3 years as trade war raises anxiety about inflation

News Snapshot:

WASHINGTON (AP) — U.S. consumer sentiment fell slightly in May for the fifth straight month as Americans increasingly worry that President Donald Trump’s trade war will worsen inflation. The preliminary reading of the University of Michigan’s closely watched consumer sentiment index, released Friday, declined 2.7% on a monthly basis to 50.8, the lowest since July 2022. Since January, sentiment has tumbled nearly 30%. Americans have largely taken a sour view about where the economy is headed in the wake of the Trump administration’s imposition of huge import duties, which threaten to slow growth and push up prices. In recent weeks,...