High gas prices, Iran war take huge toll on U.S. consumer confidence

After weeks of war with no end in sight, and gas prices rising faster than they have in decades, U.S. consumers are becoming more worried about the state of the economy than they have been in three months, according to the latest University of Michigan Survey of Consumers. UM's Consumer Sentiment Index fell to 53.3% for its final reading in March, down 5.8% from February and down 6.5% from where it was a year ago. Consumer sentiment fell to its lowest reading since December 2025. Consumers are feeling even ...