May 24, 2018

South Korean president "perplexed" by Trump's summit decision

Moon Jae-in and Donald Trump. Photo: Oliver Contreras-Pool/Getty Images

South Korean officials were blindsided by President Trump’s Thursday morning announcement that he was canceling the June summit with Kim Jong-un, per the AP. President Moon Jae-in said, "I am very perplexed and it is very regrettable" that the summit won't go ahead as planned.

What’s happening: At a late-night emergency meeting called to respond to Trump's announcement, Moon urged Trump to hold direct talks with Kim to resolve the standoff, per Yonhap. Moon only returned to South Korea yesterday after meeting with Trump at the White House to discuss the summit. He is now in a difficult position, as South Korea had planned to resume peace talks with the North.

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There are warning signs that Nevada could be Iowa all over again

Former Sen. Harry Reid (D) lines up to cast an early vote for the upcoming Nevada Democratic presidential caucus. Photo: Ethan Miller/Getty Images

The alarms are increasingly sounding over Nevada's Democratic caucus, which is just five days away.

Why it matters: Similar issues to the ones that plagued Iowa's caucus seem to be rearing their ugly heads, the WashPost reports.

China tries to contain coronavirus, as Apple warns of earnings impact

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

As China pushes to contain the spread of the novel coronavirus — placing around 780 million people under travel restrictions, per CNN — the economic repercussions continue to be felt globally as companies like Apple warn of the impact from the lack of manufacturing and consumer demand in China.

The big picture: COVID-19 has now killed at least 1,775 people and infected more than 70,000 others, mostly in mainland China. There are some signs that new cases are growing at a slower rate now, although the World Health Organization said Monday it's "too early to tell" if this will continue.

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Apple will miss quarterly earnings estimates due to coronavirus

Apple CEO Tim Cook

Apple issued a rare earnings warning on Monday, saying it would not meet quarterly revenue expectations due to the impact of the coronavirus, which will limit iPhone production and limit product demand in China.

Why it matters: Lots of companies rely on China for production, but unlike most U.S. tech companies, Apple also gets a significant chunk of its revenue from sales in China.