WASHINGTON >> U.S. consumer sentiment slumped to near a 3-1/2-year low in early November as households across the political spectrum worried about the economic fallout from the longest government shutdown in history, which has caused disruptions ranging from food benefit payments to grounded flights.

Still, the University of Michigan’s Surveys of Consumers today confirmed what economists describe as a K-shaped economy, where the higher-income households are doing well and lower-income consumers are struggling. Sentiment increased among consumers with large stock holdings, which the University of Michigan attributed to “continued strength in stock markets.” The K-shaped economy was also evident in a Conference Board survey last week. White House economic adviser Kevin Hassett told Fox Busi

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