Hong Kong police clash with protesters. The police on Wednesday used tear gas to disperse Hong Kongers rallying against a controversial extradition bill that would give China more power over the territory.
Trump says he is the one who's now holding up a trade deal with China. "China wants to make a deal very badly," President Donald Trump told reporters outside the White House on Tuesday. "It is me right now that is holding up the deal. And we're going to either do a great deal with China or we're not going to do a deal."
A top Department of Justice official says the DOJ has everything it needs to go after big tech. "We already have in our possession the tools we need to enforce the antitrust laws in cases involving digital technologies," Makan Delrahim, the top antitrust official in the Justice Department, said in the speech on Tuesday, according to CNBC. "US antitrust law is flexible enough to be applied to markets old and new."
Beyond Meat crashes after getting downgraded at JPMorgan. Shares of the plant-based-burger maker crashed 25% on Tuesday after JPMorgan said Beyond Meat was "Beyond Our Price Target." The stock is still up more than 404% since the May 1 pricing of its initial public offering.
Lovesac warns Trump's tariffs will hit profits. The maker of Sactionals and Sacs on Tuesday said Trump's tariffs on Chinese goods caused gross margins to shrink by 3.4 percentage points and warned of a similar decline in the current quarter. The company also said it was planning to move production out of China in the next 18 months.
Stock markets around the world are lower. Hong Kong's Hang Seng (-1.73%) led the losses in Asia, and Britain's FTSE (-0.64%) trails in Europe. The S&P 500 is set to open down 0.34% near 2,876.
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