- JUNG YEON-JE/AFP/Getty Images
Here’s the scoreboard:
Dow Jones Industrial Average: 24,817.33 −69.48 (-0.28%)
S&P 500: 2,726.65 -6.64 (-0.24%)
AUD/USD: 0.7577 0.0013 (+0.17%)
ASX 200 SPI futures: 6,010.0 -12.5 (-0.21%)
- Trump canceled a planned summit between the US and North Korea. Trump cited “open hostility” in a recent Pyongyang statement as he scrapped the high-stakes meeting. Defense stocks rallied following the news.
- The Justice Department reportedly opened a criminal investigation into market manipulation of cryptocurrency prices. Bloomberg reported the Justice Department is working with the Commodity Futures Trading Commission in the probe.
- The US imposed sanctions on nine individuals and companies accused of setting up companies to procure aircraft parts to Iran. Among those sanctioned are Iran-based Blue Airways and Turkey-based Otik Aviation, the Treasury Department said.
- The residential real-estate market slowed down last month. Existing home sales shed 2.5% in April to 5.46 million, the National Association of Realtors said.
- Trump is considering slapping hefty taxes on imported cars and trucks. The US’s closest allies could hurt the most from US auto tariffs.
- Deutsche Bank is axing 7,000 investment banking jobs. The broad restructuring will reduce global head count to 90,000.
Here is the upcoming economic calendar:
- The UK releases GDP numbers.
- The US reports core durable goods.
- Federal Reserve Chair Jay Powell speaks.