SUMMARY: Wall Street is experiencing a slight decline following a 16% rally this year. The S&P 500 and the Nasdaq composite are both down, while the Dow Jones Industrial Average is down 0.2%. China's slowing services industry growth adds to concerns about its recovery from COVID-19 restrictions. In contrast, the US economy remains strong, defying predictions of a recession. A report showed steady growth for US factory orders in May. There is hope that inflation is cooling, which could lead the Federal Reserve to halt rate hikes. Yields in the bond market are mixed, and certain companies are struggling while others, like Meta Platforms, are thriving. Stock markets are also experiencing declines in Hong Kong, Shanghai, Japan, South Korea, France, and Germany.

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