LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Wall Street opens lower as tensions with North Korea escalate

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Aug 09, 2017
07:24 pm
Reuters

U.S. stock indexes opened lower on Wednesday as investors turned risk averse following rising tensions between North Korea and the United States.

North Korea said it was considering plans to fire missiles at Guam, a U.S.-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.

Safe-haven assets gained following the mounting geopolitical tensions. Gold rose 1.2 percent, while the Swiss franc was on track to post its biggest single day rise in about two-and-a-half years.

Trump`s comments also sparked a late afternoon selling on Tuesday, with the Dow ending a nine-day streak of closing records.

The CBOE Volatility Index, the most widely followed barometer of expected near-term stock market volatility, was up 1.03 points at 11.98 points, its highest level in a month.

"The geopolitical tensions have prompted a risk off trade amid investors," said Naeem Aslam, chief market analyst at Think Markets UK.

"Trump`s comments about North Korea have created nervousness and the fear is if the president really means what he said "fire and fury". The typical textbook trade is that investors rush for safe haven, hence we have experienced a bounce for the gold price."

At 9:37 a.m. ET (1337 GMT), the Dow Jones Industrial Average was down 49.62 points, or 0.22 percent, at 22,035.72, the S&P 500 was down 8.01 points, or 0.32 percent, at 2,466.91.

The Nasdaq Composite was down 44.19 points, or 0.69 percent, at 6,326.27.

Seven of the 11 major S&P sectors were lower, with the consumer discretionary index`s 10.2 percent fall leading the decliners.

Shares of Dow component Walt Disney were down 4.44 percent after the company said it will stop providing new movies to Netflix and launch its own streaming service. Netflix was down 3.22 percent.

Travel website operator Priceline fell 6.72 percent, while travel-review website operator TripAdvisor was down 7.74 percent after both the companies issued disappointing forecasts.

Mylan NV was down 4.88 percent after the EpiPen maker said delays in launching key new drugs and eroding prices for generics in the United States would hurt its profitability this year and in 2018.

Burger chain Wendy`s was up 4.20 percent after it reported better-than-expected quarterly profit and sales.

Declining issues outnumbered advancers on the NYSE by 1,859 to 737. On the Nasdaq, 1,787 issues fell and 564 advanced.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Wipro share price: Expert pegs price target at Rs 545, stop-loss at Rs 440

Discoms overdues fall to Rs 74,000 cr in March after release of 2nd tranche of liquidity package

Oppo A74 5G launched in India at Rs 17,990: Check Camera, Specifications, Bank Offers and More

WhatsApp update: Android users to get new WhatsApp features soon - Check all details here

Maharashtra Class 10, Class 12 Board Exam News: Class 10 board exam CANCELLED, class 12 board exam POTPONED till THIS date - check all details here

PUBG update: Alert! PUBG Mobile India may release on THIS date? Here's all you need to know

Nemish Shah stocks: Find out what experts have to say about this ace investor's portfolio

Odisha Class 10 Board Exam 2021 Cancel News: Matric exams cancelled in the state - check all details here

Nestle India share price; Jefferies retains Hold rating with price target of Rs 18,000

Covid-19 fears persist, YES Bank share price declines by nearly 3.5% in last one week

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved