Trump tariff threats on Europe and Apple send markets lower
NEW YORK (AP) — President Donald Trump is sending stocks lower again, this time after threatening 50% tariffs on the European Union that could begin in a little more than a week.
The S&P 500 was down 1.1% in early trading Friday. The Dow Jones Industrial Average fell 408 points, or 1%, and the Nasdaq composite was down 1.6%. Trump posted on his Truth Social platform that trade talks with the European Union “were going nowhere” and that the “straight 50%” tariffs would go into effect on June 1.
Apple sank after Trump threatened to put a 25% tariff on its products unless the company moves iPhone manufacturing to the U.S.
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