The S&P 500 plummeted 1.7 percent on Friday, nearly reversing all gains made since President Trump's inauguration, spurred by rising consumer anxiety about inflation. The University of Michigan's consumer sentiment index fell to its lowest in over a year, with consumers predicting a 3.5 percent rise in prices annually over the coming decade. This increasing concern has pressured stocks and raised worries for potential market impacts as consumers show reluctance in spending, highlighting the precarious outlook for continued economic growth amidst inflationary pressures and high interest rates.
The S&P 500 fell 1.7 percent the day after a surprising decline in consumer sentiment, indicating heightened concerns over inflation and economic stability.
The survey revealed consumers expect prices to increase at a rate of 3.5 percent annually for the next decade, the highest expectation since 1995.
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