FX.co ★ Wall Street Falls on Trump Tariff Threats

U.S. stocks suffered losses on Friday following President Donald Trump's revival of trade disputes, with new tariff threats aimed at Apple and the European Union. The S&P 500 decreased by 0.6%, the Nasdaq fell by 0.9%, and the Dow Jones dropped 250 points. Apple experienced a more than 2% decline, bringing its market value below the $3 trillion threshold. This decline occurred after Trump's announcement on Truth Social, stating that iPhones sold in the U.S. must be produced domestically or face a 25% tariff. Trump also announced a substantial 50% tariff on EU imports, effective June 1, due to stalled negotiations, raising fresh apprehensions about global trade. The technology sector led the downturn, with companies like Micron, Qualcomm, and Nvidia all declining by over 1%. These developments unfolded just as markets were beginning to recover, thanks to hopes for reduced trade tensions following a 90-day tariff pause and progress in negotiations with the UK and China. So far this week, the S&P 500 has decreased by 2%, the Dow has fallen by 1.9%, and the Nasdaq is headed for a 1.5% downturn.