Small business confidence dipped in August amid rising election uncertainty

Small business confidence fell in August and reversed the prior month's gains amid growing uncertainty ahead of the Nov. 5 presidential election and expectations that sales will be sluggish.

The National Federation of Independent Business (NFIB) said Tuesday that its Small Business Optimism Index dropped 2.5 points to 91.2 last month. That comes after it had surged in July to the highest reading since February 2022, though the August decline erased all of July's gain.

"The mood on Main Street worsened in August...