Business

Dow's streak of records ends on rising US-North Korea tensions

Wednesday, August 09, 2017

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NEW YORK, United States (AFP) — The Dow's winning streak of nine straight records ended yesterday after President Donald Trump vowed a devastating response to any escalation of North Korea's nuclear programme.

“North Korea best not make any more threats to the United States,” said Trump, who was speaking from his golf club in New Jersey. “They will be met with fire and fury like the world has never seen.”

Trump's sharp rhetoric tipped US stocks into negative territory after they had earlier climbed on positive economic data. Stocks were mixed elsewhere, with European equities climbing and Tokyo dipping.

The US president's threat came after media reports that North Korea has produced a nuclear warhead small enough to fit inside its missiles.

“Investors have had a muted response to each of Pyongyang's 11 ballistic missile tests this year, but today's strong statement from Mr Trump clearly upped the ante a bit,” Briefing.com said.

“Still, today's move was very minor in the grand scheme of things and comes at a time when many investors are looking for an excuse to sell as equities hover near all-time highs.”

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