Trump's Tariff Tactics: A New Chapter in Global Trade Tensions

U.S. stocks fell, marking a weekly loss, after President Trump's recommendation of 50% tariffs on European goods reignited global trade tensions. Major indexes ended the week lower with technology stocks hit hardest. Apple's shares fell after facing potential 25% tariffs on non-US-manufactured phones.

The U.S. stock market closed lower this week amid renewed concerns over global trade tensions. President Donald Trump's proposal to impose 50% tariffs on European goods escalated worries, affecting major Wall Street indexes which shed over 2% for the week.

Technology, communication services, and consumer discretionary stocks suffered the most, with Apple shares falling 3% as the company faces potential tariffs on iPhones. Treasury yields also eased slightly.

Meanwhile, megacap stocks such as Amazon, Nvidia, and Meta Platforms saw declines. Treasury Secretary Scott Bessent conveyed Trump's dissatisfaction with EU trade offers, further hinting at elevated trade tensions.

(With inputs from agencies.)