US consumer sentiment drops to near record low in May on inflation worries, tariff uncertainty

1. Consumer sentiment dropped to 50.8, a significant decline. 2. Concerns about inflation rose to a 7.3% expectation, highest since 1981. 3. Tariffs mentioned by 75% of consumers, up from 60% in April. 4. Temporary tariff reductions may not significantly boost sentiment. 5. Current assessments of personal finances worsened due to declining incomes.