The S&P 500 currently trades at 5,360, facing potential economic challenges reminiscent of September 2022, including worries stemming from tariffs that could instigate inflation and job losses. Consumer sentiment has significantly dropped, further compounded by rising prices and uncertainty surrounding crude oil supply due to geopolitical tensions. If economic conditions worsen, the index could reset to prior lows, significantly impacting consumer spending and corporate earnings, essential for the stability of the market.
Consumer sentiment fell for the fourth straight month, plunging 11% from March. Worry about job losses helped drag the number down. People also worry about a new jump in inflation.
The current economic situation does not look a great deal different than it did in 2022. Fear of inflation has been caused by the supposed effects of tariffs.
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