According to The Kobeissi Letter, Apple stock (AAPL) declined by 4% following President Trump's announcement that iPhones must be manufactured in the US or face a minimum 25% tariff (source: The Kobeissi Letter, May 23, 2025). This marks a significant development for traders, as heightened trade tensions could increase market volatility and risk-off sentiment, leading to capital flows from equities into alternative assets like Bitcoin and Ethereum. Crypto traders should monitor for increased inflows and price volatility in digital assets as traditional technology stocks face uncertainty.