US consumer confidence crashes to four-month low

U.S. consumer confidence unexpectedly dropped in December, posting a four-month low. This is amid the resurging coronavirus infections that are pushing more states to re-impose tight restrictions on businesses and travel.

Based on the report released on Tuesday, the Conference Board index plunged to 88.6 from a downwardly revised 92.9 reading last month. The December reading fell below all expected figures predicted by Bloomberg economists which posted a 97.0 mark.

The measure of expectations increased while a gauge of sentiment about current conditions dropped.

Meanwhile, outgoing President Donald Trump threatened on Tuesday to not sign the $892 billion COVID-19 relief package that includes much-needed money for individual Americans, stating that it should be amended to raise the amount in the stimulus checks.