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Asian stocks poised to slide after Trump cancels North Korea summit

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Futures tipped a lower start to the session for Asian markets following news that U. S. President Donald Trump had canceled a planned meeting with Kim Jong Un.
Overnight news that U. S. President Donald Trump had canceled a scheduled summit with Kim Jong Un looked set to be in focus on Friday, with futures tipping a lower start to the session for Asian markets.
Nikkei futures traded in Chicago were down 0.68 percent compared to the benchmark’s Thursday close. Australian SPI futures were lower by 0.45 percent at the end of the last session.
U. S. stocks finished the session lower after Trump canceled a planned meeting with North Korean Leader Kim Jong Un that had been set to take place in Singapore on June 12.
The Dow Jones industrial average slipped 0.3 percent, or 75.05 points, to close at 24,811.76. Still, that was less severe than the 280-point fall seen after news of the cancellation was announced. The S&P 500 edged lower by 0.2 percent to 2,727.76 and the Nasdaq composite ended the day little changed at 7,424.43.
Trump said participating in the summit would be “inappropriate” given the “tremendous anger and open hostility” displayed by North Korea, which had reportedly suspended direct communication with the U.

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