Americans' confidence in US economy fell this month as Iran conflict sent gas prices back up

Americans' confidence in the economy dropped in July as rising gas prices, driven by U.S.-Iran tensions, reversed earlier gains. The Conference Board reported a decline in consumer confidence to 90.8 from 92.2, with worsening views on current business conditions. Iran's closure of the Strait of Hormuz after attacks in late February accelerated inflation, reducing inflation-adjusted incomes.