International: Trump cancels historic nuclear summit with Kim Jong Un

President Donald Trump canceled his historic nuclear summit with Kim Jong Un on Thursday, accusing North Korea of "tremendous anger and open hostility."

The meeting, which would have marked the first face-to-face encounter between a sitting U.S. president and a North Korean leader, was set for June 12 in Singapore.

"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 a letter to Kim, which was released Thursday morning. The president dictated every word of the letter himself, a senior White House official told reporters.

The senior White House official also said that North Korea had suspended direct communication with the U.S. over the past week.

Stocks fell after news of the cancellation broke, although equities rebounded from lows somewhat later in the day.

Much of the letter was written in seemingly friendly terms, including praise for North Korea's recent release of three American prisoners. In contrast, Trump also appeared to issue a threat that conjured memories of his war of words with Kim last year.

- CNBC

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