US consumer sentiment tumbled to the second-weakest reading on record while short- and long-term inflation expectations soared to multi-decade highs on growing tariff concerns.

U.S. consumer sentiment deteriorated sharply in April and 12-month inflation expectations surged to the highest level since 1981 amid unease over escalating trade tensions that have roiled financial markets and raised the risk of a recession.

Inflation slowed in March as gasoline, used car prices dropped. Trump paused many of his largest tariffs for 90 days but others are taking effect.