SpaceX plans to go public June 12 in what could become the largest IPO in history, targeting as much as $80 billion in proceeds. The rocket company will need to file its IPO paperwork by next week as investors await details about its financials and business operations, including the recently added xAI division.

Bond yields climbed to their highest level in over a year, with the 10-year U.S. Treasury settling at 4.595%. Oil prices jumped 4.2% to $105.42 per barrel, while stocks fell broadly following yesterday's all-time high in the S&P 500, which dropped 1.2%.

President Trump stated that Xi Jinping doesn't want war over Taiwan, maintaining "nothing's changed" in U.S. policy toward the democratic island. Despite both leaders expressing a desire to stabilize U.S.-China relations, Trump confirmed they avoided discussing tariffs during their tightly choreographed Beijing summit.