A new survey from the University of Michigan shows Americans bracing for economic pain as tariffs and policy uncertainty bite.

U.S. consumer sentiment plunged to a nearly 2-1/2-year low in March and inflation expectations soared amid worries that President Donald Trump's sweeping tariffs, which have ignited a trade war, would boost prices and undercut the economy.

Long-term inflation expectations jumped in March, showing intensifying consumer worries about President Trump's trade wars.