US stocks have dropped sharply following Donald Trump’s announcement that the summit with North Korea has been cancelled.
The benchmark S&P 500 Index fell by more than half a percent in the 10 minutes after the US President’s news that the event, planned for next month, would not go ahead.
The Dow Jones industrial average lost 119 points, or 0.5%, to 24,759, while the Nasdaq composite shed 24 points, or 0.3%, to 7,402.
The FTSE 100 was hovering around 0.79% down just after 4pm.
The US dollar was also down, particularly against the Japanese yen, which is seen as a safehaven currency.
The yen climbed to a two-week high against the greenback.