United States stocks end lower after comments from Trump

US: Dow streak of records ends amid US-North Korea tensions
GLOBAL MARKETS-Stocks fall on Trump's North Korea warning; dollar up after data
Author

10 August, 2017

USA stocks opened lower on Wednesday as investors flocked to safe-haven assets amid escalating tensions between North Korea and the United States.

All three major stock indexes dropped 0.2 per cent at the close, with the Dow Jones Industrial Average finishing at 22,085.34, halting a almost two-week run of closing records. The Nasdaq composite lost 0.2 percent, to 6,370.46.

Utilities closed up 0.3 percent while the materials sector .SPLRCM was the S&P's biggest loser with a 0.9-percent drop.

The back-and-forth came on the heels of reports the US intelligence community has determined North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles.

North Korea said it was considering plans to fire missiles at Guam, a USA -held Pacific island, after President Donald Trump on Tuesday warned the nuclear-armed nation that it would face "fire and fury" if it threatened the United States. In a statement delivered at his Bedminster, New Jersey golf club, Trump said, "North Korea best not make any more threats to the U.S. They will be met with fire and fury like the world has never seen".

Earlier in the day, the Dow had climbed to a record intraday high of 22,179.11. The S&P hasn't moved more than 0.5 percent in one day since July and has fallen more than 1 percent only twice this year. Sony Corp. shares in Tokyo dropped 1.6 percent.

Wall opens slightly higher, Dow hits record
In Europe, London's commodities-heavy FTSE 100 index of major blue-chip firms stocks ended the day with a 0.1 percent gain. Warren Buffett's Berkshire Hathaway was down 1.11 percent after the company reported a drop in second-quarter profit.


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She had not played in the USA since March of 2015 due in part to a 15-month doping suspension for the use of meldonium. Sharapova returned from a 15-month doping ban in April, but skipped the entire grass-court season due to injury.


Sri Lanka's struggle continues in Galle Test vs India (Lead Lunch Report)
The limited overs opener was in Hong Kong with family on a holiday two days before India's departure to Sri Lanka . Kohli described the win as "more special" since the pitch did not offer much to the bowlers.


Technology and consumer-focused companies helped lift US stocks higher Tuesday, steering the market indexes further into record territory. Yields fall when prices rise. Japan's Nikkei 225 slipped 0.3%.

"Trump's comments about North Korea have created nervousness and the fear is if the President really means what he said: "fire and fury", said Naeem Aslam, chief market analyst at Think Markets in London. It fell 19 cents, or 0.4 percent, to $49.39 per barrel Monday in NY.

A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., June 27, 2017.

"Trump's response was aggressive and that's why the market turned lower", said Ken Polcari, Director of the NYSE floor division at O'Neil Securities. September-dated crude futures settled up 0.8%, or 39 cents, at $49.56 per barrel.

CURRENCIES: The U.S. dollar weakened to 110.35 yen from 110.72 yen. The euro edged down to $1.1726 from $1.1751. While the UK's FTSE 100 Index slid by 0.6%, the German DAX Index slumped by 1.1% and the French CAC 40 Index tumbled by 1.4%.

The 10-year note fetched a high yield of 2.250 percent, above the expected 2.234 percent at the bid deadline. Hong Kong's Hang Seng added 0.6%.


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