US stock futures slump
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Wall Street is assessing President Trump''s tariff salvo on Apple and what his giant tax bill means for the deficit and the economy.
U.S. stock futures are pointing lower to end the week; President Trump says Apple must pay a "Tariff of at least 25%" on iPhones not made in the U.S.; and Intuit stock surges on the TurboTax parent's strong results and lifted outlook.
US stocks fell as Trump targets Apple and EU with tariffs. Dow Jones dropped 181 points, S&P 500 and Nasdaq also fell. Apple shares declined over 2%.
The S&P 500 closed near the flatline on Thursday, while the Dow Jones Industrial Average and Nasdaq Composite finished the session marginally lower.
US stock futures were at a standstill as Wall Street looked forward to wrapping up a week marked by growing doubts about the economy's health under Trump's trade and tax agendas.