The Globe and Mail reports in its Saturday edition that U.S. stocks fell Friday after President Donald Trump threatened 50-per-cent tariffs on the European Union. A Reuters dispatch to The Globe says the Dow dropped 256 points and Nasdaq sank 1 per cent. Mr. Trump threatened the tariffs before the U.S. stock market opened, saying on his Truth Social platform that trade talks with the European Union "were going nowhere" and that "straight 50 per cent" tariffs could go into effect on June 1. The European Union is one of the United States' largest trading partners. Stocks fell immediately afterward in Europe, with France's CAC 40 Index losing 1.7 per cent. In Toronto, the S&P/TSX Composite Index was up 25.94 points at 25,879.95. The Canadian dollar traded at 72.70 U.S. cents compared with 72.10 U.S. cents on Thursday. Apple dropped 3 per cent and was the heaviest weight on the S&P 500 after Mr. Trump went after the company specifically. He said he has been pushing Apple boss Tim Cook to move production of iPhones to the United States, and he warned a tariff "of at least 25 per cent must be paid by Apple to the U.S." if it does not. This follows a months-long stock-market recovery as tariff threats faded.