People walk past an Apple store on a street in the Huangpu district in Shanghai on May 11, 2026. (Photo by Hector RETAMAL / AFP via Getty Images)

A trader works on the floor of the New York Stock Exchange (NYSE) during the opening bell in New York, on May 11, 2026. Markets are responding to US President Donald Trump saying on May 10 he has rejected Iran's response to a US proposal for ending the Middle East war, deeming it "totally unacceptable." (Photo by ANGELA WEISS / AFP via Getty Images)

People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 11, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

People work and rest near an electronic stock board showing Japan's Nikkei index in an office building Monday, May 11, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

A trader works on the floor of the New York Stock Exchange (NYSE) during the opening bell in New York, on May 11, 2026. Markets are responding to US President Donald Trump saying on May 10 he has rejected Iran's response to a US proposal for ending the Middle East war, deeming it "totally unacceptable." (Photo by ANGELA WEISS / AFP via Getty Images)

Traders work on the floor of the New York Stock Exchange (NYSE) during the opening bell in New York, on May 11, 2026. Markets are responding to US President Donald Trump saying on May 10 he has rejected Iran's response to a US proposal for ending the Middle East war, deeming it "totally unacceptable." (Photo by ANGELA WEISS / AFP via Getty Images)

A view of the New York Stock Exchange (NYSE) after Eli Lilly and Company rings the opening bell in New York on May 11, 2026. Markets are responding to US President Donald Trump saying on May 10 he has rejected Iran's response to a US proposal for ending the Middle East war, deeming it "totally unacceptable." (Photo by ANGELA WEISS / AFP via Getty Images)

Trading numbers are displayed at the New York Stock Exchange (NYSE) during the opening bell in New York, on May 11, 2026. Markets are responding to US President Donald Trump saying on May 10 he has rejected Iran's response to a US proposal for ending the Middle East war, deeming it "totally unacceptable." (Photo by ANGELA WEISS / AFP via Getty Images)