The future of the stock crashed Friday morning after President Donald Trump issued new tariff threats against the European Union and Apple, reigning the fear of a global clash of trade and shocked investors.
The Dow Futures decreased by more than 600 points, or 1.4%, while Nasdaq Futures are plunged 1., 8%, nearly 400 points, before the opening bell at Wall Street before the weekend of the memorial day.
In a post on social truth, Trump said he would impose a 50% fee on the European Union goods within a few days if continued trade negotiations fail to offer “a just agreement” to US producers.
He also took the direct goal on Apple, warning that iphone made from abroad could soon undergo a tax of at least 25%.
“I have long informed Apple’s Cook that I expect their iPhone to be sold in the United States of America will be produced and built in the United States, not in India, or any other country,” Trump wrote.
“If this is not the case, a fee of at least 25% has to be paid by Apple in SH.BA. Thanks for your attention on this issue!”
Apple’s shares directed technology losses, dropping 4%, while Benchmark treasure yields were dropped as investors demanded safer assets.
Gold prices increased almost 1%, on the right track to their biggest weekly gain in more than a month.
Currency markets also reacted. The dollar lost the ground to most of the great peers, with the WSJ dollar index by posting a significant decline.
Apple, which collects most of its iPhone in China and has expanded some products in India, has no presence of smartphone production in the SH.BA
The company has pledged to increase internal employment and invest billions of state, but its supply chain remains rooted abroad.
Apple did not immediately respond to a comment request.
The threats come in the middle of an already tense background between Washington and Brussels.
US and EU senior officials were expected to hold talks on Friday to assess their trade negotiation status. Trump tariff warning may further complicate those discussions.
Meanwhile, the group of seven ministers of finance and central bankers completed their summit with a fierce statement that made only a transitional reference to trade and issued any mention of tariffs.
Treasury Secretary Scott Bessent participated in the three-day event, but offered little public overview of the administration strategy.
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