Ammon News - Major stock indexes and the dollar eased on Friday after U.S. President Donald Trump unleashed his latest trade threats, recommending 50% tariffs on European Union imports from June 1 and considering a 25% tariff on any Apple iPhones made outside the U.S.

The dollar index , which measures the greenback against a basket of currencies, hit a three-week trough. For the week, the dollar was down 1.9%, on track for its biggest weekly percentage decline since early April.

The dollar sank 1% versus the Japanese yen , while the euro rose 0.8% against the dollar.

The Dow Jones Industrial Average fell 256.02 points, or 0.61%, to 41,603.07. The S&P 500 dropped 39.19 points, or 0.67%, to 5,802.82 and the Nasdaq Composite slipped 188.53 points, or 1.00%, to 18,737.21.

All three major U.S. stock indexes had fallen more than 1% early in the day.

For the week, the Dow lost 2.47%, the S&P 500 fell 2.61%, and the Nasdaq shed 2.48%.

The yield was down 2.2 basis points at 5.042%. The yield on benchmark U.S. 10-year notes fell 3.6 basis points to 4.517%.

Gold, which has surged in recent months as economic anxiety has risen, was higher. Spot gold rose 2.14% to $3,364.74 an ounce.
Oil prices gained as U.S. buyers covered positions ahead of the three-day Memorial Day weekend.

Brent crude futures settled at $64.78 a barrel, up 34 cents, or 0.54%. U.S. West Texas Intermediate crude futures finished at $61.53, up 33 cents, or 0.54%. Reuters