As the Iran war continues to drive up prices, Americans are more pessimistic than ever about the economy.

Consumer sentiment reached a record low in April, tumbling below the previous record set during the post-pandemic inflation crisis in 2022, according to the widely-tracked survey from the University of Michigan. The drop was largely driven by a jump in inflation expectations, as nearly two-thirds of respondents expected the cost of gas to rise over the next year.

While consumers are still spending amid the gloom, economists warn that households could soon pull back on discretionary purchases as tailwinds from larger tax refunds fade.

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More details are emerging about the suspected gunman at the White House Correspondents’ Dinner’s potential motive, as he reportedly mocked security at the event and denounced the Trump administration’s policies.

China blocked Meta’s $2 billion deal to acquire the Chinese-founded AI startup Manus amid an escalating fight between Washington and Beijing.

Intel shares skyrocketed nearly 24% Friday, surpassing a record set during the dot-com bubble as the chipmaker’s earnings boosted hopes of a turnaround for the once-struggling company.

The Justice Department is ending its investigation into the Federal Reserve and its chairman Jerome Powell over the renovation at its headquarters, likely clearing the path to Senate confirmation for Powell’s replacement, Kevin Warsh. Voting had been stalled as Sen. Thom Tillis, R-N.C., said he would not support Warsh’s confirmation........

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