On Friday the president threatened a 50% tariff on the European Union and a 25% levy on smart phones if companies failed to move production to the U.S.

U.S. stocks fell on Friday, notching a weekly loss, after President Donald Trump recommended 50% tariffs on European goods, reopening a new front in global trade tensions and unleashing a fresh wave of market uncertainty.

Stocks slumped on Friday after President Trump lobbed new tariff threats at the EU and Apple, reviving the trade anxiety that had gradually subsided over the past month.