| Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Global markets are flashing a new ominous signal that investors are bracing for the worst As the prospect of a trade war threatens to divide the world, a unified front is forming in global markets. It's just not the type any risk-seeking investor wants to see. A Morgan Stanley gauge that monitors the correlation between asset classes and geographic regions has spiked to its highest level since 2016. This implies that financial assets around the world are trading more in lockstep than at any other point in recent memory. Perhaps more important for those seeking market signals, it also means investors are shifting into risk-off mode — one that could be setting in for the long term. And it's a definite warning signal for the risk-hungry traders still scouring the landscape for yield. Amazon, online retailer stocks getting hammered over Supreme Court decision Amazon and other online retailers are getting hit after the Supreme Court rules states can collect taxes on internet sales. Thursday's decision overturns a 1992 ruling which limited tax collection by retailers for online sales, regardless of the state where a shopper lives or if the company has a physical presence in that state. Deutsche's trading losses Traders at Deutsche Bank's US unit suffered losses 12 times larger than its risk projections estimate could occur in one day. News of the trading day, which happened earlier this year, was detailed on a May filing from the bank, Bloomberg reported. The German headquartered bank has had a challenging year with the Fed naming the US unit "troubled" in May. DB has downsized parts of their business and let go of hundreds of employees, with some top traders leaving voluntarily. The rebate debate tearing apart Wall Street Typically when the New York Stock Exchange is defending its view of how markets should be structured it goes head-to-head with its rivals. This time, it's going head-to-head with someone claiming to be a tenth-grader. On June 7, someone filed a letter to the SEC under the name of Danny Mulson slamming NYSE for its position on a proposal by regulators to examine rebates, an incentive the exchange operator uses to lure traders to its venue. It's been an ongoing debate on Wall Street that has pitted pension funds, exchanges, and brokers against each other. Mulson, writing from the non-existent town of Wetlawn Oregon, has been a stand-out voice in the debate. The humorous exchange is the latest in the ongoing debate over rebates, an incentive some exchanges use to lure traders to their exchange. In markets news | 
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