(CNBC) U.S. stocks closed lower Thursday after President Donald Trump announced that the hotly anticipated summit next month with North Korea was cancelled.
The meeting would have been the first face-to-face encounter between a sitting U.S. president and a North Korean leader.
"Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time, to have this long-planned meeting," Trump wrote in the letter.
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The Dow Jones industrial average fell 75.05 points to finish at 24,811.76 by the closing bell, well off a 280-point drop following news of the cancelled summit in Singapore. The S&P 500 shed 0.2 percent to close at 2,727.76 thanks to a 1.6 percent fall in energy stocks and a slip in oil prices.