U.S. consumer sentiment fell more than expected in March, touching a three-month low, as war in the Middle East stoked inflation worries and cast a shadow over the economic outlook. The decline, reported by the University of Michigan's Surveys of Consumers on Friday, occurred across political party affiliation and age groups, with large decreases among middle- and higher-income consumers as well as those owning stocks. The month-long U.S.-Israeli war with Iran has sent global oil prices surging more than 50%. Retail gasoline prices have jumped $1 to an average of $3.98 per gallon, data from motorist advocacy group AAA showed, while the S&P 500 index has dropped about 6.7%. Though the correlation between consumer sentiment and spending is weak, rising gasoline prices and falling share values, combined with a stagnant labor market, could undercut consumption and hamper economic growth. Higher-income households have led consumer spending, underpinned by robust wealth levels.