BY THE NUMBERS

It's a new month for Wall Street, but so far it appears it will begin the same way the old one ended — with losses. The Dow has now fallen for six consecutive weeks for the first time in eight years, while the S&P 500 and Nasdaq have posted four straight weekly declines, as ongoing tariff tensions with China and now Mexico as well as U.S. economic uncertainty loom. (CNBC)

* Market drop in May felt serious, but it is normal for stocks (CNBC)

The Dow's Friday close was its lowest since Jan. 29, while the S&P 500 and Nasdaq closed at their lowest since March 8. And although the Nasdaq is still up more than 12% for the year, it is moving closer to correction with a nearly 9% decline from its May 3 record closing high. (CNBC)

Goldman Sachs (GS) sees increased risks of escalations of U.S. trade disputes with China and Mexico. There is now a 60% chance of the U.S. placing a new 10% tariff on the final $300 billion of Chinese imports. There is now a 70% chance of Trump imposing 5% duties on Mexican goods and a 50% chance that goes to 10%. (CNBC)

* US-China trade deal isn't likely at the G-20 summit this month, JP Morgan and Morgan Stanley say (CNBC)
* Morgan Stanley sees global recession 'in three quarters' if Trump escalates trade war (CNBC)

Top officials from the U.S. and Mexico are set to begin talks today over tariffs and border safety. "Mexico is sending a big delegation to talk about the Border," the president tweeted. "Problem is, they've been 'talking' for 25 years. We want action, not talk." (AP)

On the economic calendar, at 10 a.m. ET, both the May ISM manufacturing index and April construction spending are out. Some of the nation's automakers issue May sales today, although Ford (F) and GM (GM) only report on a quarterly basis. There are no major earnings this morning. Box (BOX) releases its quarterly number after today's closing bell.