US markets took a sharp turn lower on Friday, May 15, 2026, with the Dow, S&P 500 and Nasdaq all falling after President Donald Trump concluded his China visit without easing key investor worries. The S&P 500 slid to 7,436 and the Nasdaq fell 1.25%. Nvidia dropped nearly 4% and Amazon also slipped as Treasury yields jumped on hotter-than-expected inflation data. Oil topped $108, the dollar strengthened, while gold and silver plunged amid renewed volatility and Iran uncertainty.
China’s yuan climbed to a three-year high against the dollar as investors digested the lead-up to the Trump-Xi summit. Equities pulled back on profit-taking, while attention tilted to AI progress. Despite hopes for stability and a possible managed trade approach on non-sensitive goods, expectations remain low for major trade breakthroughs.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Oil prices climbed to $105 as markets watched a high-stakes Trump-Xi meeting in Beijing. The focus: whether diplomacy can help end the Iran war disrupting supply, including fears around the Strait of Hormuz blockade. With supply lagging demand and few tankers reportedly exiting since February, traders are betting on a breakthrough to cool prices.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
