Wall Street ends lower after Trump cancels North Korea summit

US stock indices closed the fourth session of the week lower after President Donald Trump cancelled a highly-anticipated summit with North Korean leader Kim Jong Un in Singapore, citing "tremendous anger and open hostility" displayed by the North Korean side. 

Earlier US data showed unemployment claims rose 9 thousand to 234 thousand from 223 thousand, above expectations of 220 thousand, while continuing claims rose 29 thousand in the week ending May 12 to 1.741 million from 1.712 million, below estimates of 1.746 million. 

The House Price Index rose 0.1%, down from 0.6% in February, and missing forecasts of 0.5%, while existing home sales fell 0.9% to an annualized 5.50 million units, compared to a 1.1% rise in March to 5.60 million. 

Federal Reserve Bank of Atlanta President Raphael Bostic said in earlier remarks that three rate hikes this year would be appropriate, considering a range of 2.25% to 2.75% as suitable for interest rates. 

Bostic said President Trump's decision to cancel a summit with North Korean leader Kim Jong Un in Singapore could create more tensions in markets. 

Dow Jones fell 0.30%, or 75.05 points to 24,811.76, while Standard and Poor's 500 dipped 0.20%, or 5.53 points to 2,727.76. NASDAQ Composite inched down 1.53 points to 7,424.43. 

Gold futures due on August 15 rose 1.16% to $1,309.80 an ounce, while the dollar index dipped 0.22% to 93.79 from the opening of 93.79.  

US crude futures due on July 15 fell 1.64% to $70.66 a barrel from the opening of $71.84, while Brent futures due on July 15 fell 1.32% to $78.75 a barrel from the opening of $79.80.