Trump, stocks and tariff
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Stocks ended lower but off lows, sizing up Trump's new tariff threats against Apple and EU. Treasury yields also eyed as big tax bill progresses.
Stocks closed down on Friday after President Donald Trump threatened new tariffs targeting tech giant Apple and the European Union. The Dow Jones Industrial Average closed down 256 points, or 0.6%, while the S&P 500 declined 0.
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The tariff war the U.S. is waging against most of the world stabilized somewhat earlier this month. But let's face facts -- it could easily flare up again. President Donald Trump
Markets on Wall Street and in Europe declined rapidly early Friday morning after President Donald Trump posted a pair of tariff threats on social media, one aimed at Apple and the other at the European Union.
Major stock indexes and the dollar eased on Friday after U.S. President Donald Trump unleashed his latest trade threats, recommending 50% tariffs on European Union imports from June 1 and considering a 25% tariff on any Apple iPhones made outside the U.
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Shorting stocks has been a coin-flip in 2025, with almost 50% of short positions unprofitable this year, S3 Partners said.
Dow industrials drop 2.5% on the week, while bond markets flash new signs of danger.
President Donald Trump on Friday threatened to hit Apple with a 25% tariff unless the company starts manufacturing iPhones in the U.S., just days after he criticized the company for its reported plans to move its smartphone production from China to India in a bid to beat tariffs.
European stocks tumbled, the euro gave back some gains, and euro zone government bond yields fell sharply on Friday after U.S. President Donald Trump said he is recommending a straight 50% tariff on goods from the European Union starting on June 1.
Cars and banks are leading European markets lower after President Trump threatened to impose a 50% tariff on European Union goods within days. **Stellantis
Shares of Ross Stores sank Friday, a day after the discount retailer pulled its full-year outlook due to the uncertainty caused by the Trump administration's shifting tariff policies.