All three US benchmarks closed lower in New York after President Donald Trump issued new tariff threats on his social media platform early in the day against both the European Union and Apple. Shares in Apple slumped 3 per cent.
Shares pared some losses through the session after US Treasury secretary Scott Bessent said that the US expects to reach trade deals with several countries, none of which he identified, in the new several weeks. However, shares struggled late after Trump reiterated to reporters in the Oval Office his disappointment with both the EU and Apple.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
