According to The Kobeissi Letter, President Trump announced at 7:19 AM ET that iPhones must be manufactured in the USA or face a minimum 25% tariff, directly targeting Apple’s shift of production to India (source: @KobeissiLetter on Twitter, May 23, 2025). Following this statement, the S&P 500 rallied to 5820 as traders anticipated a significant impact on global supply chains and tech sector valuations. This policy threat increases uncertainty for Apple ($AAPL) and multinational hardware stocks, while driving volatility across the broader equity and crypto markets. Crypto traders should monitor for increased risk aversion and capital flows as investors react to US-China-India trade dynamics, which historically influence Bitcoin and altcoin price action during periods of equity market stress.

According to The Kobeissi Letter, President Trump announced at 7:19 AM ET that Apple ($AAPL) must relocate iPhone production to the USA or face a minimum 25% tariff, in response to Apple shifting manufacturing to India (source: The Kobeissi Letter on X, May 23, 2025). The S&P 500 surged to 5820 following this statement as traders priced in potential supply chain changes and U.S. tech sector volatility. For cryptocurrency traders, this policy shift could drive increased market volatility and capital flows into digital assets as investors hedge against tech stock uncertainty and global trade tensions.