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US Stock Market Highlights: US stocks fell on Friday due to renewed trade tensions after President Trump targeted Apple and the EU. The Dow dropped 181 points, S&P 500 and Nasdaq fell 0.4% and 0.7%. Apple shares fell over 2%.
US Stock Market Highlights: US stocks fell on Friday as renewed trade tensions rattled investors, following President Donald Trump’s latest remarks targeting Apple and the European Union.
The Dow Jones Industrial Average shed 181 points, or 0.4%, while the S&P 500 and Nasdaq Composite each dropped 0.4% and 0.7%, respectively.
Tech giant Apple saw its shares fall over 2% after Trump declared that iPhones sold in the United States must be manufactured domestically—or face a minimum tariff of 25%. It marked the first time the president has singled out a specific company as part of his escalating tariff campaign this year.
Trump also signalled that trade talks with the EU had stalled, calling for a flat 50% tariff on all EU imports from 1 June 2025.
Markets trimmed losses later in the session after reports suggested the White House did not interpret the president’s remarks as formal policy. However, the comments come just as trade tensions had begun to ease. Following a wave of sweeping tariffs imposed in April, Trump had paused the harshest duties for 90 days and announced provisional deals with both China and the UK—moves that had helped markets rebound. The S&P 500 only recently returned to flat for the year.
This latest drop compounds a tough week for equities, with the S&P 500, Dow and Nasdaq all down more than 2%.
