Stocks struggled during a 4-day market week as the U.S.-China trade standoff continued to weigh on the minds of market participants. From the Friday, May 24 close to the Friday, May 31 close, the S&P 500 retreated 2.62%; the Nasdaq Composite, 2.41%; the Dow Jones Industrial Average, 3.01%. The MSCI EAFE index of overseas stocks dipped just 1.47% in a week.1,2

Trade is dominating the conversation in the financial markets, with developments steadily unfolding. Wednesday, China’s state media suggested that the country could soon cut off exports of rare earths to the U.S. Late Thursday, the Trump administration announced 5% tariffs on all imports from Mexico, effective June 10; these taxes could rise in the coming months.3,4

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1 – wsj.com/market-data [5/31/19]
2 – quotes.wsj.com/index/XX/990300/historical-prices[5/31/19]
3 – tinyurl.com/y3qycvq6 [5/30/19]
4 – foxbusiness.com/markets/us-stocks-wall-street-may-31-2019 [5/31/19]