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Wall Street goes down after Trump’s cancellation of North Korea summit

Stocks in the United States ended Thursday in the red zone after U.S. President Donald Trump announced the cancellation of the much awaited summit with North Korea’s Kim Jong Un.

In a letter written by Donald trump, he said he felt that it was currently inappropriate for the the U.S. to meet North Korea due to the “tremendous anger and open hostility” that the North Korean leader showed in his recent statement.

The Dow Jones Industrial Average ended the day at 24,811.76, losing 75.05 points while the S&P 500 lost 0.2 percent as the under-performing energy stocks dragged the index down. The Nasdaq composite was mostly unchanged as Netflix and Adobe negated the losses seen in Facebook and Intel.

 Japanese yen slides after North Korea say it was still willing to talk with US

The Japanese yen went down on Friday after North Korea said that it was still open to talk to the United States following U.S. President Donald Trump’s cancellation of the North Korea summit set in June. North Korea’s Vice Foreign Minister, Kim Kye Gwan, said in a statement that they found the cancellation of the summit “extremely regrettable” and said that they were still willing to have the talks “at any time in any form to resolve the problem.”

Against the dollar, the yen went down by 0.3 percent and closed at 109.60 yen. The euro was on track for another weekly loss against the dollar having been nearly unchanged at $1.1718.

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