U.S. stocks fell after President Donald Trump threatened 50% tariffs on the European Union that could begin in a little more than a week.

U.S. futures have turned sharply higher and Asian shares mostly fell after U.S. President Donald Trump said he would delay a threatened 50% tariff on goods from the European Union to July 9 from June 1.

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.