US stock markets fell sharply Friday after an economic report showed American consumers are growing increasingly fearful of price increases and how President Donald Trump’s tariffs could reignite the inflation crisis.

Taken together, the combination of increased concern about the effects of Trump’s economic proposals and heightened inflation are a warning sign for the new administration as it tries to deliver on its promise of broad tariffs on imported goods, tax cuts and mass deportations of immigrants.

U.S. consumer sentiment dropped more than expected in February to a 15-month low and inflation expectations rocketed as households worried that President Donald Trump's plans for steep and broad-based tariffs would eat into their purchasing power.

President Donald Trump said on Friday he expects Ukrainian President Volodymyr Zelenskiy to sign a minerals agreement with the United States soon as part of efforts to end the Ukraine war.

Bank of Canada Governor Tiff Macklem says underlying price pressures may be cooler than indicated by the central bank’s two preferred measures of core inflation.