U.S. Stocks Fall After Trump Threatens 50% EU, 25% Apple Tariffs

U.S. stock markets closed lower following President Donald Trump's announcement of new tariff threats targeting Apple and imports from the European Union. Trump declared a 25% tariff on iPhones not manufactured domestically and suggested similar tariffs could extend to other manufacturers like Samsung, exempting companies that build U.S. manufacturing plants. He also threatened a 50% tariff on EU imports starting June 1 if trade negotiations fail, escalating tensions and reversing recent market optimism. The technology sector was particularly hard hit, with the Nasdaq falling around 1%, and Apple shares dropped over 2%. Despite initial steep losses, markets recovered some ground but remained negative by close, with concerns compounded by fears over fiscal policies adding to the U.S. deficit. Meanwhile, some sectors like utilities and energy saw modest gains, and nuclear energy company GE Vernova reached a new high amid the sell-off.