Bloomberg:
- May Said to Tell Tories: ‘I’ll Get Us Out of This Mess’. U.K. Prime Minister Theresa May told rank-and-file lawmakers from her Conservative Party that she takes responsibility for their general-election defeat last week and will stay on as head of government only as long as they want her to. “I’m the person who got us into this mess and I’m the one who will get us out of it,” May said Monday, according to two lawmakers who were in the private meeting. May was appearing for the first time since the election in front of lawmakers furious at the catastrophic campaign that cost the party its majority and threatens to end her premiership.
- Pound Extends Drop as U.K. Political Chaos Adds to Brexit Stress. (video) The pound fell against all its Group-of-10 peers on the prospect of an unstable coalition government heading into Brexit talks with the European Union in a week’s time.
- U.S. Bears Return to China With Shorts Circling $6 Billion ETFs.
- Tech Selloff Doesn't Mean Investors Have Given Up on the Bull Market. With the tech meltdown showing no sign of abating, equity bulls are taking solace in how little money is actually leaving the stock market as a whole. The trend can be seen in investment flows, where one of the biggest withdrawals from exchange-traded funds tracking technology shares in a year was more than offset by deposits into banks, energy producers and retailers.
- European Stocks Slide as Technology Selloff Spreads Around World. (video) European stocks fell as investors dumped technology shares while assessing political events in the U.K. and France. The Stoxx Europe 600 Index dropped 1 percent at the close. Technology shares led the declines, following their peers in U.S. and Asian markets, with the European tech sector falling the most in a year. The Stoxx 600 rose 0.3 percent Friday, boosted by gains in the U.K.’s FTSE 100 Index.
- Your Evening Briefing.
Wall Street Journal:
- After Young Voters Rock Britain, U.S. Watches for the Wave. U.K. election results hint at promise, but also risks, for American Democrats.
- A Single-Payer Test Drive. If Democrats are serious, why not try it out in California?
- You Don’t Know VIX: The Fear Gauge Is Now the Epicenter of Today’s Markets. Created to track expectations of volatility, the indicator has spawned a giant trading ecosystem that could magnify losses when turbulence hits.
- Facebook(FB) Building Feature to Let Users Subscribe to News Publications. Subscription support for news on social media company’s mobile app seen rolling out by end of year.
CNBC:
- Inside Trump Inc: The president's known holdings, in one stunning map.
- More than a quarter of the market's technology stocks are already in a correction.
- How Tesla(TSLA) can become worth more than Apple(AAPL), according to Morgan Stanley(MS).
- Senate's Obamacare reform bill reportedly due to be finalized Monday night, but no plans to show public yet.
- RBC raises stock market outlook into the tech wreck, sees 7% S&P 500 rebound into end of the year.
- Last time this happened small caps exploded higher: Technician.
Zero Hedge:
- 'Madoff Whistleblower' Harry Markopolos Has Uncovered A New Fraud.
- US Urges Beijing To Impose First Round Of Sanctions Against Chinese Firms Trading With North Korea.
- McDonalds(MCD) To Hire 250,000 This Summer Via SnapChat(SNAP), Spotify And Hulu.
- You Know It's Bad In Spain's Banking System When...
- Sessions To Testify Publicly Before Senate Intel Committee Tomorrow.
- Italian Bond Yields Plunge To 5-Month Lows After Anti-EU 5-Star Party Flops In Local Elections. (graph)
- Traders Are Buying The Most Nasdaq Downside Protection Since Lehman. (graph)
- (AAPL) Loses $50BN In Market Cap As Citi Piles On: Cuts EPS, iPhone Sales Forecast.
- Viking Returns $8 Billion To Investors As CIO Departs.
- GE(GE) CEO Jeff Immelt To Step Down.
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