U.S. futures and global markets slumped Friday after President Donald Trump posted a pair of tariff threats on social media, one aimed at Apple and the other at the European Union.

The euro fell on Friday, reversing earlier gains after U.S. President Donald Trump said he would recommend hitting the European Union with 50% tariffs from June 1, reigniting investor fears over the impact of duties on the world economy and trade.

US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones the company sells in the United States are not manufactured locally. In a post on Truth Social, Trump said he had "long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and