Stock markets declined after the president’s early-morning threats of 25 percent import taxes on iPhones and 50 percent on goods from Europe.

The stock market took a drop after President Donald Trump threatened to slap the European Union with a 50% tax on imports and tech giant Apple with a 25% tariff on smartphones. In another political battle,

Trump has repeatedly called on Apple to move manufacturing to US from China, but the company shifted production for more than half its phones to India