U.S. President Donald Trump recently stated on social media that he would impose a 25% tariff on iPhones not manufactured in the United States. He emphasized that he expects iPhones sold by Apple in the U.S. to be produced domestically and not in India or elsewhere. This announcement has led to significant drops in both U.S. and European stock markets.

Reports indicate that over 60 million smartphones are sold in the U.S. each year, yet none are currently manufactured domestically. Today, the three major U.S. stock indices opened down about 1%, with the Dow Jones Industrial Average falling 394 points in just 15 minutes after opening, settling at 41,464 points, a drop of 0.94%. The S&P 500 index fell 1.13%, landing at 5,776 points, while the Nasdaq dropped 1.46%, closing at 18,650 points.

The Apple stock mentioned by Trump declined by over 2% on the day, and Nvidia also experienced a 1% drop. In Europe, the main stock indices saw a slight narrowing of their losses, ranging between 0.6% and 2.2%, with France performing the worst.