India, May 23 -- After ending the previous session roughly flat, stocks are likely to come under pressure in early trading on Friday. The major index futures are currently pointing to a sharply lower open for the markets, with the S&P 500 futures down by 1.4 percent.
The futures plunged after President Donald Trump threatened to impose 50 percent tariffs on imports from the European Union beginning June 1st.
Trump claimed in a post on Truth Social that the EU has "been very difficult to deal with" and said trade talks with the bloc are "going nowhere!"
In a separate Truth Social, Trump also threatened to impose a 25 percent tariff on Apple (AAPL) iPhones that are not manufactured in the U.S.
Trump's threats have led to renewed to trade ...