Here is the latest news from The Associated Press at 1:40 p.m. EDT
NEW YORK (AP) _ U.S. markets are getting slammed as the trade war between the U.S. and China escalates. The Dow plunged 700 points today, giving up almost 3%. The S&P 500 fell 2.6% and the tech heavy Nasdaq slumped 3.42%, led by Apple. Investors seeking a safe place to park money sent the price for an ounce of gold up to $1,300. Every one 30 companies that make up the Dow Jones index is in negative territory.
BEIJING (AP) — Deepening its trade war with the U.S., China has announced higher tariffs on $60 billion worth of American goods in retaliation for President Donald Trump’s latest penalties on Chinese products. China’s Finance Ministry says tariffs of 5% to 25% will take effect on June 1 on about 5,200 American products, including batteries, spinach and coffee.
UNDATED (AP) _ Soybean farmers are growing frustrated by the lack of progress in trade talks between the U.S. and China. In a prepared statement, the American Soybean Association said the U.S. has met with Beijing 11 times with no deal being reached.
LOS ANGELES (AP) _ Actress and singer Doris Day, who carried her wholesome image through hit movie comedies in the 1950s and 1960s, has died at the age of 97. Word of her death comes from her foundation that worked on behalf of animal rights. Day began her career as a band singer before starring in films such as “Pillow Talk,” the first of three with co-star Rock Hudson. Her off-screen life was not always as sunny; she wrote in her autobiography about money troubles and three failed marriages.
BOSTON (AP) — “Desperate Housewives” star Felicity Huffman has arrived at federal court in Boston, where she is set to plead guilty in the college admissions cheating scheme. The 56-year-old actress didn’t speak as she walked into the courthouse with her brother. Huffman is expected to admit to allegations that she paid $15,000 to have someone correct the answers on her daughter’s SAT.