Apple's stock price tumbled after Donald Trump threatened a 25% tariff on iPhones made outside the US, escalating trade tensions. The announcement, made on Truth Social, triggered a Wall Street sell-off, with major tech stocks also declining. Trump also proposed a 50% tariff on EU goods, further unsettling investors amid ongoing trade negotiations and uncertainty surrounding US demands.

Indian equity markets rebounded strongly on Friday, with Sensex and Nifty gaining nearly 1% driven by heavyweight stocks and positive sentiment around a potential record RBI dividend. While the market recovered some weekly losses, concerns remain about FII outflows and US fiscal health. Sector-wise, FMCG and IT stocks led the gains.

India's foreign exchange reserves experienced a decrease of $4.888 billion, settling at $685.729 billion for the week ending May 16, according to the RBI. This decline follows a previous week's increase, with gold reserves notably decreasing by $5.121 billion. Foreign currency assets saw a slight increase, while SDRs and the reserve position with the IMF also experienced decreases.

Donald Trump plans a 50% tariff on the European Union starting June 1, 2025. He says trade talks are stalled. Trump claims the EU takes advantage of the US. He also warns Apple. Trump wants iPhones sold in America to be made in America. He says tariffs will apply if Apple manufactures elsewhere.

India plans to open its government procurement market to foreign companies. This includes firms from the United States. The move follows a similar agreement with the United Kingdom. US companies may bid on contracts worth over $50 billion. These contracts are primarily from federal entities. The decision is part of trade deal negotiations with Washington.

US stocks experienced a volatile session, ultimately closing with minimal changes as declining Treasury yields mitigated earlier losses fueled by deficit concerns. The market found stability after the House approved President Trump's tax and spending bill. Tech stocks outperformed, while sector performance was mixed, with utilities and healthcare declining and technology gaining.

Deutsche Bank forecasts India's real GDP to grow by 6.8% year-on-year in Q4 FY25, rebounding from previous quarters, driven by decreased subsidies and improved net tax collections. Favorable inflation and supportive government policies further bolster this growth, potentially pushing real GDP above 7%. India's strong economic momentum positions it as an attractive global investment destination.

Sebi is investigating IndusInd Bank's senior management for potential securities market violations related to a Rs 3,400 crore accounting fraud. The RBI is conducting the primary investigation. The bank acknowledged employee involvement and initiated internal audits after identifying discrepancies in derivatives, microfinance, and balance sheet disclosures. Despite a significant net loss in the March quarter, IndusInd Bank shares recovered slightly.

The Reserve Bank of Australia (RBA) has cut the cash rate to 3.85%, marking the second reduction this year amid declining inflation, now within the 2-3% target. This decision follows concerns about global economic uncertainty due to US tariffs, despite recent trade negotiation revivals between the US and China. While inflation stabilises, unemployment has slightly increased to 4.

CATL, a leading EV battery manufacturer, witnessed its shares surge over 13% during its Hong Kong stock market debut, raising $4.6 billion. This marks the largest IPO globally this year, fueling CATL's expansion in Europe with new factories and partnerships. Despite U.S. concerns and allegations of military ties, which CATL denies, the listing proceeded, strategically excluding U.S. investors.