U.S. consumer confidence plummeted in February, the biggest monthly decline in more than four years, a business research group said Tuesday.
The consumer confidence index measures both Americans’ assessment of current economic conditions and their outlook for the next six months.
The Conference Board reported that its consumer confidence index sank this month to 98.3 from 105.3 in January.
That's far below the expectations of economists, who projected a reading of 103, according to a survey by FactSet.
The S&P 500 fell 0.5%, while the Dow Jones Industrial Average slid 1.7%.
