Markets Plunge as Trump Ramps Up Trade War Rhetoric

Holy smokes, the stock markets are tanking faster than a lead balloon! Trump's gone and done it again, cranking up the heat on trade and taking aim at both Apple and the EU. If they don't play ball, watch out!

The U.S. is like a pressure cooker ready to blow, with trade tensions with the rest of the world hitting the roof. The markets are taking a nosedive, folks. On Friday, May 23, the Dow Jones was limping along at 41,624 points, down a gut-punching 234 points or 0.56%. The S&P 500 wasn't faring any better, sitting at 5,802 points, down 0.69%. And the tech-heavy Nasdaq? It was at 18,742.20, bleeding out 0.97%.

This rollercoaster ride took a sharp dive when Donald Trump decided to dial up his tariff talk yet again. The man's got Apple in his crosshairs, threatening them with heftier tariffs if they don't start churning out iPhones in the good ol' U.S. of A.

"I've been telling Tim Cook at Apple that I want their iPhones sold in the U.S. to be made right here, not in India or anywhere else. If they don't, Apple's gonna pay at least a 25% tariff to Uncle Sam," Trump blasted out.

Can you imagine the sticker shock if Apple had to make those iPhones in the U.S.? We're talking a possible 90% hike in manufacturing costs, according to Bloomberg. No wonder Apple's stock took a 2.6% hit after Trump's bombshell dropped.

Trump Escalates Trade War with the EU

But wait, there's more! Trump's not just gunning for Apple; he's also taking a swing at the EU. He's pissed about the trade talks, saying they're "going nowhere," and he's ready to slap a whopping 50% tariff on all EU goods coming into the U.S. starting June 1.

The trade war's heating up, and Wall Street's sweating bullets. With other countries likely to hit back, U.S. tariffs could throw a wrench into the global economy. Big U.S. companies like Apple and Tesla are feeling the heat, with a huge chunk of their cash coming from overseas markets.