New York Stock Market, Trump EU, Apple Tariff Threats Fall
Trump’s Tariff Threats Weigh on Global Markets
Table of Contents
- Trump’s Tariff Threats Weigh on Global Markets
- Trump’s Tariff Threats and Their Impact on Global Markets: A Q&A
- What happened in the global markets on Friday due to Trump’s tariff threats?
- How did the major stock market indexes perform?
- What specific tariff threats did Trump make?
- Why are these tariff threats causing market concern?
- What sectors experienced declines on Friday morning?
- How did Apple’s stock react to the tariff threat?
- were there any sectors that saw gains?
- How did Intuit’s stock perform?
- How were european markets affected?
- What happened to oil prices?
- Can you summarize the key market movements?
NEW YORK (AP) — U.S. President Donald Trump’s renewed threats of tariffs against the European Union and Apple sent ripples of concern through global markets Friday, triggering a broad sell-off.
At 9:47 a.m. EDT,the Dow Jones Industrial Average fell 396.08 points, or 0.95%, to 41,463.01. The S&P 500 dropped 66.72 points, or 1.14%, and the Nasdaq Composite slid 279.73 points, or 1.48%, to 18,646.01.
EU Trade Negotiations Stalled
President Trump stated that trade negotiations with the EU are showing ”no progress at all,” and suggested imposing a 50% tariff on EU products starting june 1, 2025.
Apple Targeted with Tariff Threat
In a seperate statement,Trump indicated that iPhones sold in the United States should be manufactured domestically,or Apple would face tariffs of at least 25%. This marks the first instance of Trump publicly singling out a specific company in his tariff campaign this year.
The renewed tariff rhetoric injected uncertainty into global trade, reversing a recent trend toward easing tensions. In April, similar tariff threats shook the stock market, pushing the S&P 500 into a period of weakness. A temporary suspension of tariffs and preliminary agreements with the UK and China had helped the S&P 500 recover its year-to-date gains.
ross Mayfield, an investor strategist at Baird, noted the market’s strong rally in recent weeks, fueled by expectations of reduced trade tensions. “This measure is a sign that trade conflicts can rise again,” Mayfield said. “It’s unlikely to test the low, but from the market point of view, it’s a bad direction.”
Sector Performance
All sectors experienced declines Friday morning. Consumer discretionary and technology stocks fell by approximately 1.2%, while industrial and telecommunication services sectors declined by 0.8%. Utilities were the only sector showing gains, rising 0.18%.
Apple’s stock price fell by 2% following President Trump’s statement regarding tariffs on iPhones manufactured outside the United States.
Nuclear Stocks Rise Amid Stimulus
Conversely, nuclear-related stocks saw gains following President Trump’s signing of an industrial stimulus executive order. Oklo’s share price rose 14%, Newscale Power increased by 9%, and Constellation Energy gained 2%.
Intuit, a tax preparation software company, reported strong first-quarter results that exceeded market expectations and provided a positive annual performance outlook. The company’s stock price rose 9%.
European Markets Affected
European stocks also declined broadly.The Eurostoxx 50 index fell 2.42%. Germany’s DAX index dropped 2%, the UK’s FTSE index decreased by 0.79%, and France’s CAC40 index fell 2.52%.
Oil Prices Decline
International oil prices continued their decline for the fourth consecutive day. West Texas Intermediate (WTI) crude for July delivery was down 0.38% at $60.97 per barrel, while Brent crude, the global benchmark, fell 0.45% to $64.15 per barrel.
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The Associated Press contributed to this report.
Trump’s Tariff Threats and Their Impact on Global Markets: A Q&A
What happened in the global markets on Friday due to Trump’s tariff threats?
U.S. President Donald trump’s renewed threats of tariffs against the European Union and Apple triggered a broad sell-off, sending ripples of concern through global markets on Friday.
How did the major stock market indexes perform?
At 9:47 a.m.EDT,the following declines were observed:
Dow Jones Industrial Average: Fell 396.08 points, or 0.95%, to 41,463.01.
S&P 500: Dropped 66.72 points,or 1.14%.
nasdaq Composite: Slid 279.73 points, or 1.48%, to 18,646.01.
What specific tariff threats did Trump make?
European Union: Trump suggested imposing a 50% tariff on EU products starting June 1,2025,due to stalled trade negotiations.
Apple: Trump indicated that iPhones sold in the United States should be manufactured domestically,or Apple would face tariffs of at least 25%.
Why are these tariff threats causing market concern?
The renewed tariff rhetoric injected uncertainty into global trade, reversing a recent trend toward easing trade tensions. Investor strategist Ross Mayfield noted this is a sign that trade conflicts can rise again.
What sectors experienced declines on Friday morning?
All sectors experienced declines, except for utilities, which showed gains:
Consumer discretionary and technology stocks: Fell by approximately 1.2%.
Industrial and telecommunication services sectors: Declined by 0.8%.
Utilities: Rose 0.18%.
How did Apple’s stock react to the tariff threat?
Apple’s stock price fell by 2% following President Trump’s statement regarding tariffs on iPhones manufactured outside the United States.
were there any sectors that saw gains?
yes, nuclear-related stocks saw gains following President Trump’s signing of an industrial stimulus executive order:
Oklo’s share price rose 14%.
Newscale Power increased by 9%.
Constellation Energy gained 2%.
How did Intuit’s stock perform?
Intuit, a tax preparation software company, reported strong first-quarter results that exceeded market expectations and provided a positive annual performance outlook. The company’s stock price rose 9%.
How were european markets affected?
European stocks also declined broadly:
Eurostoxx 50 index: Fell 2.42%.
Germany’s DAX index: Dropped 2%.
UK’s FTSE index: Decreased by 0.79%.
France’s CAC40 index: Fell 2.52%.
What happened to oil prices?
International oil prices continued their decline for the fourth consecutive day:
West Texas Intermediate (WTI) crude for July delivery was down 0.38% at $60.97 per barrel.
* Brent crude, the global benchmark, fell 0.45% to $64.15 per barrel.
Can you summarize the key market movements?
Here’s a table summarizing the key market movements mentioned in the article:
| Market/Index | Movement | Percentage Change |
|---|---|---|
| Dow Jones Industrial Average | Fell 396.08 points | -0.95% |
| S&P 500 | Dropped 66.72 points | -1.14% |
| Nasdaq Composite | slid 279.73 points | -1.48% |
| Apple Stock | Fell | -2% |
| eurostoxx 50 index | Fell | -2.42% |
| Germany’s DAX index | dropped | -2% |
| UK’s FTSE index | Decreased | -0.79% |
| france’s CAC40 index | Fell | -2.52% |
| WTI Crude Oil | Down | -0.38% |
| Brent Crude Oil | Down | -0.45% |