‘Mr. President, we could do without another bombshell’: How market pros are reacting to Trump’s Apple and 50% EU tariff threats

News Snapshot:

U.S. President Donald Trump cranked up his trade threats on Friday, targeting both smartphone giant Apple along with imports from the entire European Union, roiling global markets. Trump threatened to impose a 25% tariff on Apple for any iPhones sold, but not manufactured, in the United States. He also said he would recommend a 50% tariff on the European Union to begin on June 1. Stock indexes in the U.S. and across Europe fell, although they pared earlier sharper losses. The U.S. benchmark S&P 500 was down about 0.8% and the pan-European STOXX 600 index was last down 1.1%. Here’s...