“It’s a very natural reflection of how people feel,” said Johan Grahn, head of ETF strategy at Allianz Investment Management.
“It’s concerning because consumer sentiment is a leading indicator and it's normally indicative of a coming drop in retail sales,” Nelson said.
“The surge of the delta variant has started to impact how comfortable consumers feel being out in public,” said Greg McBride, chief financial analyst at Bankrate.
“Even if inflation does prove temporary, it still puts a crimp in household budgets and could lead to softer spending,” he said.
“The market for sure will be responding to it, and that will trigger an additional layer of anxiety,” he said.
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