Consumer sentiment worsened in August, snapping two consecutive months of improved attitudes among shoppers as President Donald Trump imposed sweeping new tariffs on nearly 70 countries. The fresh reading fell short of economists’ expectations.

U.S. consumer sentiment softened in August as households anticipated higher goods prices because of import tariffs. The University of Michigan's Surveys of Consumers on Friday said its Consumer Sentiment Index dropped to 58.

US consumer sentiment unexpectedly fell for the first time since April and inflation expectations rose on lingering anxiety about the impact of tariffs.