University of Michigan Survey Reveals Deteriorating Consumer Sentiment Amid Rising Inflation Fears

Consumer sentiment declined by 12% in March, signaling expectations of a deteriorating economy, according to the University of Michigan. Two-thirds of consumers foresee rising unemployment over the next year, representing the highest level of concern since 2009. The Dow Jones Industrial Average fell by more than 700 points amid worries about the economy and government policies, reflecting a continued downturn in the market. Experts caution that declining consumer sentiment may result in lower spending, which could push the economy toward recession.