The shares in early trading fell on Friday after President Donald Trump threatened a new tariff targeting Apple and the European Union.
Dow Jones Industrial Average decreased 458 points, or 1.1 %, while SAnd P 500 decreased 1.2 %. Technology NASDAQ decreased by 1.6 %.
Apple shares have decreased by approximately 3 % in the open trading championship. European stocks also fell on Friday, as the Stoxx Europe 600 index fell by approximately 2 %.
In a post on social media, Trump urged Apple to manufacture iPhone devices in the United States, and criticized the company for plans to transfer some production to India in an attempt to avoid the definitions of China. Trump said that if Apple fails to convert iPhone to the United States, the company will face a 25 % tariff.
Minutes later, Trump released a social media post criticizing the European Union for a commercial position that he described as “very difficult to deal with.” In response, Trump said he “recommends” a 50 % tariff on the goods of the European Union to start on June 1.
The market decline has been erased some gains made in recent weeks as Trump has declined.
Last month, Trump exempted phones, computers and chips from the so -called “mutual definitions” imposed on Chinese Chinese goods, which at that time reached 125 % tax. This step also excluded such products from a 10 % tariff on the plane imposed on almost all imports.
Last week, Trump has temporarily cut off mutual aesthetics on China from 125 % to 10 % as the United States and China held trade negotiations. China still faces a 20 % tariff for its role in the fentanel trade, which reaches the total fees on Chinese goods to 30 %.
The United States of Chinese agreement represents the latest softening of Trump’s drawings, weeks after the White House stopped “mutual definitions” in dozens of countries. Trump also reduced the definitions of the sector targeting cars, and its duties are declining on some goods from Mexico and Canada.
However, there is still a set of definitions in place, including a 10 % tax on board that apply to imports from almost all countries. Additional definitions struck the car parts, as well as steel and aluminum.
Consumers face the highest average effective tariff rate since 1934, and the YALE Budget Lar was found earlier this month.
An increasing group of major retailers warned of the high -level tariffs, including Nike, Target, Walmart and Best Buy.
