11:22 AM EDT, 05/23/2025 (MT Newswires) -- All three major US stock indexes were down in late-morning trading Friday after President Donald Trump threatened to levy tariffs on Apple ( AAPL ) and the European Union earlier in the day via two Truth Social posts.

Trump said he is recommending a "straight" 50% tariff on the EU, effective June 1 because the union has been "very difficult to deal with." Separately, Trump threatened to impose a tariff of at least 25% on Apple ( AAPL ) if the tech giant doesn't begin producing iPhones within the US. Apple ( AAPL ) shares were down 2.6% around midday.

Booz Allen Hamilton ( BAH ) Chief Financial Officer said Friday on the company's earnings call that the company plans to reduce its workforce of 36,000 employees by about 7% in Q1. The cuts will be heavily concentrated in the company's civil business, he said. Booz Allen shares were down 13.6%.

Douglas Elliman ( DOUG ) has received a merger offer from Anywhere Real Estate (HOUS) this week that would value the company at roughly double its current share price, Bloomberg reported Friday, citing people with knowledge of the matter. The bid comes as the real estate brokerage is dealing with the fallout from lawsuits involving a pair of former star agents, according to the report. Douglas Elliman ( DOUG ) shares were up 32%, while those of Anywhere Real Estate were up 4.5%.

Workday (WDAY) reported fiscal Q1 non-GAAP earnings late Thursday of $2.23 per diluted share, up from $1.74 a year earlier and above the FactSet consensus analyst estimate of $2.01. Fiscal Q1 revenue was $2.24 billion, up from $1.99 billion a year ago and above the FactSet consensus of $2.22 billion. The company expects Q2 subscription revenue of $2.16 billion, matching analyst estimates. Workday also affirmed its fiscal 2026 subscription revenue guidance of $8.8 billion and announced a new buyback program for up to an additional $1 billion shares. Workday shares were down 11.1%.

EU antitrust authorities circulated a new series of questions last week to market participants on "scheme fees" they levy on financial institutions that provide card-payment services to retailers using Visa (V) and Mastercard ( MA ) networks, Bloomberg reported Friday, citing people familiar with the matter. The probe could lead to fines totaling 10% of annual revenue if authorities find the companies guilty of abusing their market dominance, the report said. Visa shares were down 1.2%, while those of Mastercard ( MA ) were down 1%.

Price: 196.24, Change: -5.13, Percent Change: -2.55