Wall Street is assessing President Trump''s tariff salvo on Apple and what his giant tax bill means for the deficit and the economy.

Stock markets were down in early trading on Friday after President Donald Trump said he wanted to impose a 50-percent tariff on the European Union and a new 25-percent tariff on iPhone maker Apple.The S&P 500 was down around 0.

The S&P 500 recently flashed a technical sell signal, Bank of America said, which can suggest a near-term drop in stock prices.

Investors worried about the US debt pile are weighing the House vote to approve President Trump's "big, beautiful" tax bill.

The 50-day moving average is a short- to mid-term trend indicator. When a stock is above its rising 50-day MA, it has about a 67% chance of closing higher the next day. That trend flips bearish when the 50-day is sloping downward. This “technical rule” can be used effectively on stocks, ETFs and market indices.

The S&P 500 pulled back 2% during the first four trading sessions this week, but it was essentially flat for 2025 through May 22, with dividends reinvested. So some investors might still have been sighing with relief, considering that the large-cap U.S. benchmark had been down 15% for the year through April 8.

If these stocks aren't leading their industries in uncertain market conditions, they're typically paying a hefty dividend.

Atlassian stock dropped 15%, creating a rare buying opportunity. Learn how agentic AI and solid growth drive value for TEAM stock despite near-term risks.

Stock market swings are scary, but a smart investing strategy factors in the dips. The S&P 500 has historically delivered around a 10% annual return for investors who keep their money there for decades. If you have many years before retirement, you can afford to ride out the waves and grow your money over the long term.

The Dow, S&P 500, and Nasdaq are down after President Donald Trump threatened Apple with 25% tariffs on foreign-made iPhones.

"I don't trust the S&P 500 farther than I can throw it," Bill Smead told BI.