In European Equity Markets the pan-European Stoxx 600 closed more than 0.5 percent lower after trading flat for much of the session. Europe’s autos stocks led the losses, down more than 1.8 percent following an announcement from the U.S. that it plans to investigate whether an “abuse of trade tactics” in cars could harm the world’s largest economy. Porsche, Daimler and BMW were 3.02, 2.77 and 1.69 percent lower respectively. Food & Beverages stocks were the top performers Thursday, up 0.83 percent. Looking at individual stocks, Electrocomponents jumped to the top of index as it reported a 32 percent rise in full-year pre-tax profits on Thursday. Shares were over 16 percent higher.

In Currency Markets the US dollar fell against a basket of currencies on Thursday and hit a two-week low against the Japanese yen, after U.S. President Donald Trump called off a summit meeting with North Korean leader Kim Jong Un and as traders booked profits following the greenback’s recent rally. The euro was up 0.26 percent at $1.1726. Still, it was set to be down for a sixth consecutive week against the dollar, its longest such streak since January 2015, hobbled by worries over a deepening economic slowdown in the currency bloc. Turkey’s lira weakened more than 2 percent, retreating from hefty gains made on Wednesday when the central bank raised interest rates 300 basis points.

In Commodities Markets oil prices fell about 1 percent on Thursday, with expectations building that OPEC could wind down the output deal in place since the start of 2017, due to supply concerns out of Venezuela and Iran. Brent crude futures fell 61 cents, or 0.8 percent, to $79.19 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 67 cents to $71.17 a barrel, a 0.9 percent loss. The Organization of the Petroleum Exporting Countries may decide in June to lift output to make up for reduced supply from Venezuela and Iran, the latter in part due to the U.S. decision to withdraw from the Iran nuclear arms control deal, OPEC and oil industry sources told Reuters.

In US Equity Markets stocks fell on Thursday after President Donald Trump canceled a planned historic summit with North Korean leader Kim Jong Un, heightening concerns over his latest protectionist move as trade tensions with China simmer. The S&P 500 was down 0.53 percent, at 2,718.78 and the Nasdaq Composite fell 0.44 percent, at 7,393.42. Eight of the 11 major S&P sectors were in the red, led by the energy sector’s 1.8 percent decline. Best Buy Co fell 8.2 percent, the most on the S&P, after the consumer electronics retailer reported a slowdown in quarterly online sales and did not update its full-year financial outlook.

In Bond Markets Germany’s 10-year government bond yield fell to its lowest since early January on Thursday after U.S. President Donald Trump on Thursday called off a planned summit with North Korean leader Kim Jong Un. The yield on Germany’s 10-year government bond, one of the safest and most liquid investments in the world, dropped 4 basis points to 0.46 percent at one stage, its lowest since Jan. 11, before settling at 0.47 percent. Italian government bond yields were set for their biggest daily decline in six months even as President Sergio Mattarella gave political novice Giuseppe Conte a mandate to lead the country’s first government made up of anti-establishment parties.