US consumer sentiment fell in November to one of the lowest levels on record as Americans grow gloomier about their personal financial outlook.The University of Michigan’s index of consumer morale has dropped to 51 for November, down from 53.6 in October.The recent stock market falls appear to have dented sentiment among rich Americans, while other citizens are suffering from high prices in the shops.Surveys of ConsumersdirectorJoanne Hsuexplains:After the federal shutdown ended, sentiment lifted slightly from its mid-month reading. However, consumers remain frustrated about the persistence of high prices and weakening incomes.This month, current personal finances and buying conditions for durables both plunged more than 10%, whereas expectations for the future improved modestly.By the end of the month, sentiment for consumers with the largest stock holdings lost the gains seen at the preliminary reading. This group’s sentiment dropped about 2 index points from October, likely a consequence of the stock market declines seen over the past two weeks.