Stock markets declined after the president’s early morning threats of import taxes of 25 percent on iPhones and 50 percent on goods from Europe.

That abrupt shift "from Tariff Man to global salesman," as investment strategist Ed Yardeni put it, revived an S&P 500 bull market in stocks.But just as the ride was smoothing out, markets got a jolt Friday morning as Trump threatened a 25% tariff on Apple iPhones if they're not manufactured in the U.

President Donald Trump threatened fresh tariffs on the European Union and iPhone maker Apple on Friday, prompting a sell-off on Wall Street. Trump said trade talks with the European Union, which represents 27 nations,