Global Markets Tumble Amid Trump's New Tariff Threats
Markets in the U.S. and Europe fell sharply after President Trump announced new tariff threats targeting Apple and the European Union. These threats, conveyed via social media, led to declines in stock futures, oils, and Treasury yields, impacting investor confidence and market stability.
- Country:
- United States
Global markets faced sharp declines early Friday following tariff threats from President Donald Trump aimed squarely at tech giant Apple and the European Union. These announcements were made on Trump's social media platform, Truth Social, shaking investor confidence.
The S&P 500 and Dow Jones Industrial Average futures slid 1.5%, while Nasdaq futures dropped 1.7%. These declines were mirrored in Europe, with Germany's DAX dropping 1.9% and Paris' CAC 40 falling by 2.4%. Additionally, Apple's shares fell 3.8% in response to Trump's threat of a 25% tariff on its products unless manufacturing shifts to the U.S.
Energy prices were also hit, with U.S. benchmark crude oil prices dropping $1.07 to $60.13 per barrel, and Brent crude decreasing by 99 cents to $63.45 per barrel. This volatile market movement comes as Trump has recently scaled back many similar threats, but the latest announcements have reinvigorated uncertainty.
(With inputs from agencies.)
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