The S&P 500 Index ($SPX) (SPY) Friday closed down -0.67%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.93%. June E-mini S&P futures (ESM25) are down -0.77%, and June E-mini Nasdaq futures (NQM25) are down -1.09%.
Stock indexes retreated on Friday, with the S&P 500 and Dow Jones Industrials posting 2-week lows and the Nasdaq 100 posting a 1-1/2 week low. Trade tensions and concerns about the fiscal outlook undercut stocks. President Trump's comments knocked Apple's shares down more than -3% and weighed on technology stocks when he threatened 25% tariffs on Apple if the company's iPhones were not made in the US. Mr. Trump also threatened to increase tariffs on other device makers, such as Samsung Electronics, if they didn't move the manufacturing of their products to the US.
