CEO confidence sinks to lowest level since 2016

Confidence among the nation’s top CEOs saw the biggest quarter-over-quarter drop in 7 years and hit a level not seen since the 4th quarter of 2016, according to a closely-watched survey by the Business Roundtable.

Why it matters: Corporate America’s level of optimism has dramatically receded from the levels when President Trump took office. Amid heightened trade war uncertainty, CEOs have downgraded expectations for hiring, capital spending and sales growth — potentially exacerbating fears that the record economic expansion could be coming to an end.