Trump warning over North Korea hits markets

Trump warning over North Korea hits markets”

Losses in health care and consumer-focused companies pulled USA stocks broadly lower Tuesday, snapping a 10-day winning streak for the Dow Jones industrial average.

In commodities trading, U.S. crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut.

Meanwhile, traders absorbed a report on jobless claims ( that showed that initial claims for USA unemployment-insurance benefits continue to reflect a strong labor market, even as they inched slightly higher.

He was responding to reports first published by the Washington Post that the belligerent state had successfully produced miniaturised nuclear weapons that could fit inside its missiles.

"That may have weighed a little bit" on markets, said Phil Guarco, global investment specialist J.P. Morgan Private Bank.

On Thursday the greenback had shed 0.8 percent versus the yen, with the Japanese currency rallying broadly against most major currencies.

The euro edged 0.3 percent lower to 1.1726 against the dollar. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 1.5 basis points at 2.226 percent. The index has fallen to its lowest intraday level in well over a month.

"Obviously we are looking at the increased tensions between the USA and North Korea", said Brad Bechtel, managing director FX at Jefferies in NY.

After scaling back from record highs earlier in the session, Wall Street's three major indexes dipped after Trump said North Korea "will be met with fire and fury" like the world has never seen if it threatens the United States.

Most large-cap stocks were mixed across the board. The stock fell $3.30 to $30.09.

Macy's (M) slipped more than 10% as the retailer reaffirmed downbeat guidance, but reported second-quarter earnings and revenue that beat expectation ( s. The stock was the biggest gainer in the S&P 500, adding $8.02 to $45.25. TMX Group Ltd was up 3.2 percent to C$68.02, while Quebecor Inc added 4.3 percent to C$45.20 and Canadian Tire Corp Ltd climbed 5.7 percent to C$149.89.

Health care equipment and services company Henry Schein declined amid a broader slide by health care stocks. Shares of Kohl's (KSS) tumbled by 5.8% after an earnings beat (

OIL: Benchmark U.S. crude lost 12 cents to $48.47 per barrel on the on the New York Mercantile Exchange.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London.

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