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 trade class 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 for goods from the European Union within days if the continued negotiations of tradition fail to offer “a just agreement” to US producers.
He also aimed at Apple, warning that the iphone made from abroad could soon undergo a tax of at least 25%.
“I have a long -awaited Apple Cook Action I expect their iPhone to be sold in the United States of America will be manufactured 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 gentle statement making 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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