Apple ($AAPL) is shutting down one of its retail stores in Dalian, China, marking its first closure of a directly managed store on the mainland.

The move speaks to slowing spending by consumers and Apple’s continuing struggles in China, its second-largest market.

Apple Inc. (AAPL) is closing a retail store in China, one of its key markets, where it faces multiple headwinds, including U.S. President Donald Trump’s tariff threats. The Tim Cook-led company said on the website of its Parkland Mall store,

JPMorgan Chase, already the largest credit card issuer in the U.S., is nearing a deal to take over the Apple Card portfolio from Goldman Sachs, people familiar with the matter told CNBC. The banks declined to comment to CNBC.

JPMorgan Chase is in "advanced talks" with Apple about becoming the Apple Card's new financial partner, according to The Wall