Dow streak of records ends amid US-North Korea tensions

Dow streak of records ends amid US-North Korea tensions

"The declines in USA markets started to gain traction in the afternoon session as nervousness set in after President Trump warned North Korea that they would face "fire and fury like the world has never seen", if they continued with their attempts to build a nuclear warhead, that is able to hit the western US".

Wall Street also is reacting to a flare-up in tensions after North Korea threatened to launch a missile strike aimed at USA territory Guam, underlining deteriorating relations between Washington and Pyongyang.

In the United Kingdom, the stock of TV giant ITV was down 1.9 percent in early trading, and Sky shares were down 0.5 percent, while Germany's ProSiebenSat.1 fell 1.2 percent.

The technology-focused Nasdaq Composite Index (NYSEARCA:QQQ) reversed course to finish down 0.2% at 6,370.46. The Dow also fell 0.5% to dip briefly back below the 22,000 mark, and the Nasdaq tumbled almost 1%. The Dow snapped a nine-day streak of closing records. Tokyo's Nikkei 225 tumbled 1.3 percent to 19,738.71 while Seoul's Kospi fell 1.1 percent to 2,368.39.

In commodities, oil prices resumed lower on Tuesday as investors assessed the implications of rising crude production from the Organization of the Petroleum Exporting Countries (OPEC).

Investors kept a wary eye on escalating tensions between the US and North Korea.




Disappointing earnings also helped pull the market lower Wednesday.

The broad-based Stoxx Europe 600 stock index dropped 0.5 percent in early trading, with key indices, such as Britain's FTSE 100, Germany's DAX and France's CAC all down 0.5 percent or more.

Travel companies Priceline.com and TripAdvisor also weighed on markets, with shares falling more than 7%. The dollar was down 1.2 percent at 0.9627 Swiss francs, while an ounce of gold was 1 percent higher at $1,275.

Priceline Group dropped 8 percent after issuing a profit forecast that was weaker than analysts were expecting. The Nasdaq composite climbed 30 points, or 0.5 percent, to 6,414.

Martin van Vliet, a senior rates strategist at ING, said the market move in German bonds was exacerbated by speculative bets on futures derivative contracts, rather than actual trading in the underlying assets. More than 70 percent of S&P 500 companies that had reported posted better-than-expected earnings while 69 percent have beaten of sales, according to data from Thomson Reuters I/B/E/S. Net income fell to US$3 million from US$36 million in the year-ago quarter.

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