US consumer sentiment has plunged to its lowest level in over two years. Inflation expectations have jumped the most since 1993. The University of Michigan’s preliminary March sentiment index sank to 57.

U.S. consumer sentiment plunged to a nearly 2-1/2-year low in March and inflation expectations soared amid worries that President Donald Trump's sweeping tariffs, which have ignited a trade war, would boost prices and undercut the economy.

US consumer sentiment fell to a more than two-year low and long-term inflation expectations jumped by the most since 1993, illustrating growing apprehension about the economic impact from tariffs.