US Consumer Confidence Hits Seven-Month Low

US consumer confidence fell to a seven-month low in August, according to the Conference Board, reflecting a worse outlook among Americans. The decline adds to signs of economic strain, as new-home sales also dropped to their lowest level since January. Separately, President Trump lamented the lack of US aluminum amid a trade row with Canada, while economists warned that proposed 50% tariffs on Canada could eliminate 90,000 jobs. The news comes as the US faces a growing debt crisis and builds out gas-fired power capacity at twice the rate of China.