The U.S. stock market continued its downward trend on August 29th, with the Nasdaq falling by 1.00%. This decline comes alongside a notable drop in consumer confidence, according to Joanne Hsu, director of the University of Michigan’s consumer survey. The final U.S. consumer confidence index matched the preliminary figure, revealing a substantial decrease of about 6% compared to July. Despite rising slightly compared to April and May, this month’s index remains at least 10% lower than six and twelve months ago. Notably, this decline has impacted consumers across all age, income, and stock wealth groups, with an overall deterioration in public perception of the economy. High prices are further contributing to the situation, leading to the lowest durable goods purchasing conditions in a year and a 7% drop in current personal financial conditions. Expectations for business conditions and the labor market also fell in August. However, despite its relatively low level compared to last year, consumer expectations for their own finances remained stable this month. Notably, consumer sentiment regarding recent events involving the Bureau of Labor Statistics, and Federal Reserve was not prominent in the survey interviews that concluded on August 25th, the same day U.S. President Donald Trump announced the dismissal of Federal Reserve Governor Cook.