Apple Stocks Dive Amid Tariff Threat
Apple's stock suffered a notable decline after President Trump's announcement of a potential 25% tariff on iPhones not manufactured within the U.S. This led to drops across major stock index futures, highlighting tensions in the trade policies impacting tech giants.
Apple shares experienced significant depreciation on Friday following President Donald Trump's announcement. The President warned of a 25% tariff on iPhones if they are not produced domestically, prompting the stocks to tumble by 3.1% in premarket trading to $195.26.
The announcement had rippling effects across stock futures. As of 07:29 a.m. ET, the Dow E-minis decreased by 126 points, or 0.3%, S&P 500 E-minis fell by 19 points, or 0.32%, and Nasdaq 100 E-minis went down by 88.25 points, or 0.42%.
This development underscores ongoing trade tensions that continue to put pressure on technology firms like Apple, affecting investor confidence and market stability.
(With inputs from agencies.)
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- U.S. economy
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- trade policy
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- premarket trading
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