U.S. markets fell today (May 23, 2025) as President Donald Trump reignited trade fears by warning Apple and proposing stricter tariffs against the European Union. Wall Street was unsettled by Trump’s threats to impose aggressive tariffs on the EU and Apple, causing stocks to decline and the dollar to hit its lowest level since December 2023. The industrial Dow Jones closed down by 256 points or 0.61%. The S&P 500 lost 0.67%, while the Nasdaq dropped 1%. Apple’s stock plummeted by 3%, leading the fall among tech giants. This marks the first specific company targeted under this year’s tariff plans. Trump also stated that the previously threatened 25% tariff on Apple would extend to device manufacturers like Samsung Electronics, aiming to push them to move production to the U.S. US Steel shares surged by 21%. Meanwhile, benchmark 10-year Treasury yields held their gains as regulators may relax a capital rule for the market, potentially reducing returns. Safe-haven currencies like the Japanese yen and Swiss franc rose alongside gold. In a Truth Social post, the Republican mentioned that ‘negotiations with them are going nowhere.’
Wall Street Stocks Close Lower Amid Trump’s Tariff Threats on Apple, Samsung, and EU
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in Markets