Leading indexes on the US stock exchanges fell significantly when trading began on Friday following President Donald Trump's new tariff threats, directed at the iPhone manufacturer Apple. However, the prices recovered somewhat during the day.
At the close, the broad S&P index had fallen by 0.7 percent, the Dow Jones industrial index by 0.7 percent, and the technology-heavy Nasdaq composite index by 1.0 percent.
Apple's share lost 3.0 percent.
Another loser was the discount store chain Ross Stores, down 9.9 percent, after the company withdrew its forecast for the full year 2025, citing that half of the company's products are imported from China. We expect it to be difficult to maintain profits if the tariffs remain at the current high levels," explained CEO Jim Conroy.
However, the steel giant US Steel surged after Trump's announcement that he supports the merger with the Japanese competitor Nippon Steel. The share rose by over 21 percent.
