(You can also get "5 Things You Need to Know Today" delivered to your inbox daily. The Dow dropped 617 points after China announced it was hiking tariffs on $60 billion worth of imported American goods. Most of them now carry tariffs of 25% -- up from 10% when they were first levied last September. Apple rulingIn a major setback for Apple, the Supreme Court ruled that iPhone owners can sue the tech giant for monopolizing its app store. JUST WATCHED iPhone owners can sue Apple over App Store monopoly Replay More Videos ... MUST WATCH iPhone owners can sue Apple over App Store monopoly 02:235.

Source: CNN May 14, 2019 10:24 UTC