Good Friday morning. Welcome back to Squawk on the Street. I'm Sarah Eisen with Carl

Cantania and David Faber live as always from post nine of the New York Stock Exchange.

Stock's under pressure this morning. Prospect of higher tariffs on the EU on Apple.

S&P's down 1%. You've got every sector lower

right now. NASDAQ's down 1.3%. If you look at what's getting hit the hardest, it is information

technology, consumer discretionary at the bottom of the list, the chipmakers under pressure.

For the week overall, it looks like we're chalking up declines of about 3% on the S&P 500. On the NASDAQ, almost 3% as well. Treasuries, they've been in focus lately on the back of higher yields. We're seeing lower yields today. So there's buying. The 10-year yield goes to 4.5. Two-year yield just below 4%. And the 30, which we're watching, also, just about 5 percent. Coming up, Apple,

adding to sizable losses on the week as President Trump threatens the company with tariffs

on any phones made outside the U.S. More on the fallout, straight ahead. Plus, Apollo's

Torsten's lock is here with more on how rising rates are hitting the market and impacting one

specific sector more than the rest.

Let's get the final macro print of the week and some housing data with Rick Santelli.

Hey, Rick.

Yes, new home sales for the month of April.

And boy, this number is surprisingly strong.

743,000 seasonally adjusted annualized units of single homes and that's up almost

11% from a downwardly revised 724 in the rearview mirror that becomes 670,000. This is the highest

pace on new home sales going all the way back.

Get this, February of 22.

And we weren't expecting it.

If you looked at existing home sales for April, it was down half of 1%.

Its pace at 4 million seasonally just annual I units was the slowest April pace.

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