The article discusses the current market turmoil driven by President Trump's looming threat of a 50% tariff on the EU, which has led to a sell-off across all major stock indices. Apple has particularly suffered due to warnings about tariffs on iPhones produced abroad. Despite the negative sentiment in sectors like consumer discretionary and technology, there are reports of optimism for certain stocks, such as Tesla, which has seen an increase in price target by analysts. Overall, the trade war's escalation continues to create significant volatility in the markets.
The markets are under pressure due to a potential 50% tariff threat on the EU and renewed fears impacting major stocks like Apple.
Consumer discretionary and technology sectors are hit hardest as the trade war escalates, leading to a 2.7% weekly decline for the S&P 500.
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