Shares of tech giant Apple experienced a significant drop today. On Friday, Apple’s stock fell 4% to a low of $193.46. This decline comes after U.S. President Donald Trump threatened that if Apple manufactures iPhones sold in the U.S. outside America—such as in India or any other country—the company would face a 25% tariff on those imports. Trump’s warning triggered heavy selling of Apple shares in the U.S. stock market, with investors rushing to offload their stakes.
Major U.S. Stock Exchanges Trading in the Red
At 11:32 PM IST (2:02 PM ET) on Friday, Apple shares were trading on Nasdaq down 2.55% ($5.13), at $196.23. Following Trump’s tariff-related posts on Truth Social, Wall Street saw widespread selling. In early trading, the Dow 30 fell 0.94% (391.47 points) to 41,467.60. Meanwhile, the S&P 500 dropped about 1.11% (64.68 points) to 5,777.33 around 10:15 AM. Nasdaq Composite suffered the most, sliding 261.83 points (1.38%) to 18,663.90.
Microsoft and Nvidia Shares Also Decline
The downturn wasn’t limited to Apple; several other major companies saw share prices fall by up to 2%. Microsoft Corporation, Nvidia Corporation, Amazon, Alphabet, and Meta all experienced declines. Should Trump’s proposed 25% tariff on iPhone imports be implemented, Apple iPhone prices in the U.S. are likely to rise sharply.
“Made in India” iPhones Are Currently Sold in the U.S.
It’s worth noting that the iPhones currently sold in the U.S. are manufactured in India. Trump opposes iPhone production for the U.S. market taking place in India or any other country outside America. He has even discussed this matter directly with Apple CEO Tim Cook, urging him to keep iPhone manufacturing within the United States rather than outsourcing it abroad.
Disclaimer: This article is just for information. It should not be treated as investment advice in any way. Investing in the stock market is based on risk. Be sure to consult your financial advisor before investing in the stock market.
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