Fear of North Korea attack sends Wall Street spiraling

Fear of North Korea attack sends Wall Street spiraling

Fear of North Korea attack sends Wall Street spiraling

"As a result all major U.S. markets closed lower for the first time in over two weeks, and this weakness unsurprisingly has spilled over into Asia markets as well, as geopolitical tensions prompt some nervousness, particularly since North Korea's state media suggested that they examining the prospect of a missile strike near the USA base in Guam".

President Donald Trump said that if North Korea continues to escalate the situation, "They will be met with fire, fury, and, frankly, power, the likes of which the world has never seen".

The Dow Jones industrial average lost 71 points, or 0.3 percent, to 22,013.

Canadian stocks may fall Wednesday after tensions between the US and North Korea escalated.

The Dow Jones Industrial Average (DJIA - 22,048.70) ended with a loss of 36.6 points, or 0.2%.

The technology-focused Nasdaq Composite Index (NYSEARCA:QQQ) reversed course to finish down 0.2% at 6,370.46. Netflix was down 3.84 percent.

FLOUNDERING: SeaWorld Entertainment slid 4.3 percent after the theme park operator reported second-quarter revenue that fell short of Wall Street's expectations. Earnings growth for the MSCI Euro zone companies reporting this quarter is tracking at 15.7 percent, with 76 percent of results in so far.

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A second former Western Michigan football player is heading to prison in an armed robbery of a woman near campus. Boston second baseman Dustin Pedroia (left knee) was placed on the 10-day disabled list.

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She says the US plans to discuss the issue with other Asian nations during a regional meeting taking place in the Philippines. It is one of the very few multilateral events attended by North Korea's foreign minister nearly every year.

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ENERGY: Benchmark U.S. crude added 28 cents to $49.45 per barrel in electronic trading on the New York Mercantile Exchange. It fell 19 cents, or 0.4 percent, to $49.39 per barrel Monday in NY.

Pyongyang has made no secret of its plans to develop a nuclear-tipped missile able to strike the United States, which it says are a legitimate means of defence against perceived US hostility, including joint military drills with South Korea. Brent crude, used to price global oils, gave up 29 cents to $51.85 in London.

BONDS: Bond prices fell. The yield on the 10-year Treasury note held steady at 2.26 percent.

Disappointing earnings also helped pull the market lower Wednesday.

Travel companies Priceline.com and TripAdvisor also weighed on markets, with shares falling more than 7%. Henry Schein lost 5.1 percent and Microsoft lost 0.6 percent.

Wider Asian markets down: Japan's Nikkei stock index closed down 1.33%, the Hong Kong Hang Seng index is down 0.35%, and China's Shanghai Composite is down 0.28%.

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