Futures lower as N.Korea tensions extend to third day

Travel and media companies led US stocks lower in afternoon trading Wednesday as some rare earnings disappointments weighed on the market.

The broad-based S&P 500 was hit even harder, dropping 1.5 percent to close at 2,438.22, while the tech-rich Nasdaq Composite Index lost 2.2 percent 6,216.87.

The Dow Jones industrial average closed up 14 points, a gain of 0.07 percent, the Nasdaq composite rose almost 40 points or 0.64 percent and the S&P 500 gained 3 points or 0.13 percent.

Macy's shares closed down 10.2 percent and Kohl's fell nearly 6 percent as the companies continued to report a drop in quarterly same-store sales, stoking concerns that their turnarounds may still be a long way off.

The CBOE Volatility Index, the most widely followed barometer of expected near-term US stock market volatility, hit its highest mark since November 8, when Trump was elected president. Hong Kong slumped 2.04 per cent, Shanghai slipped 1.63 per cent, Korea shed 1.69 per cent, Jakarta fell 1.03 per cent. Singapore shares also ended in negative territory as increasingly bellicose talk between the United States and North Korea prompted investors to take money off the table, while traders trimmed positions ahead of the weekend.

USA dares China, takes naval warships to Chinese waters without permission
USA officials say the military will continue to sail, fly and operate wherever permitted by global law. China has ignored and dismissed the ruling as a sham.

Investors opted for the perceived safety of US Treasuries, which pushed the yield on the 10-year note three basis points lower to 2.21 percent.

Second-quarter earnings have been stronger than expected with analysts now expecting S&P 500 earnings to have expanded 11.8 percent, up from 8 percent at the start of July, according to Thomson Reuters I/B/E/S.

Banks also fell 2 percent, putting the index on track for its worst week in nine months.

The FTSE 100 Index closed down 44.67 points at 7,498.06 after US President Donald Trump told North Korea he would unleash "fire and fury like the world has never seen" following suggestions the communist state can now strike America with a nuclear missile.

Korea's Kospi dropped 1.7%, cementing a weekly loss of 3.2%.

Redskins' Trent Murphy to miss season with torn ACL
Murphy was already slated to miss the first four games of the season after being suspended for violating the NFL's PEDs policy . The 26-year-old recorded a career-high nine sacks in 2016, trailing only Ryan Kerrigan's 11 among Washington defenders.

MARKETS OVERSEAS: In Europe, Germany's DAX fell 1.1 percent, while France's CAC 40 slid 1.4 percent.

The market's backstop safety asset, gold, edged up to its latest two-month high of $1,288 an ounce.

The focus on North Korea has largely overshadowed a Labor Department report showing an unexpected drop in USA producer prices in the month of July.

Politics lifted USA defense stocks.

Selling was broad. Declining issues outnumbered advancing ones on the NYSE 6-to-1; on Nasdaq, a 3.60-to-1 ratio favored decliners. Copper rose 1 cent to $2.91 a pound.

Dallas Cowboys RB Ezekiel Elliott ready for 'long battle' over suspension
Elliott will be appealing the suspension and will have the full support of Cowboys owner Jerry Jones throughout the process. The Cowboys are coming off an exceptional season, but will have to figure out a way to replace Elliott.

About 6.48 billion shares changed hands on USA exchanges on Wednesday compared with the 6.16 billion average for the last 20 sessions. Brent crude, used to price worldwide oils, rose 20 cents to $52.10 a barrel in London. The euro rose to $1.1824 from $1.1774.

Related news:

Hot News

isis-killer-beheading-video-story-top Nats' Harper leaves game with apparent left knee injury
Aug 13, 2017 - 10:45
Harper flew in the air and appeared to be in agony as he hit the ground while clutching onto the front of his knee. Brewers get Walker • The Milwaukee Brewers agreed to acquire veteran second baseman Neil Walker from the Mets.

isis-killer-beheading-video-story-top NAACP Condemns 'Unite the Right' Hate Rally in Charlottesville, Virginia
Aug 13, 2017 - 10:33
The incidents came hours after violent clashes between white nationalists and counter-protesters amid rising tensions in the city. According to AP, the individual suspected of being behind the wheel of the auto during the attack is in custody.

isis-killer-beheading-video-story-top Scott off the pace on day two of PGA Champ
Aug 13, 2017 - 10:24
Wiesberger missed birdie chances, and then three-putted for bogey on the ninth hole from 50 feet. Both players make the cut, but there were some high profile players taking the weekend off.

isis-killer-beheading-video-story-top GOP senator: Congress 'obviously' not authorizing war in Venezuela
Aug 13, 2017 - 10:08
A reporter asked if he meant to say the U.S. would lead a military operation in the South American country. Questions over how seriously to take the threat underscore the unusual nature of the Trump presidency.

isis-killer-beheading-video-story-top Wenger Wants Arsenal Star To Be Like Zlatan
Aug 13, 2017 - 09:47
Leicester manager Craig Shakespeare couldn't have imagined Wenger would have the Gunners completely abandon center backs. There's so many strikers down the years who have been that backup striker who have played a major part in the season.

isis-killer-beheading-video-story-top Mariota returns; Jets top Titans 7-3 in preseason opener
Aug 13, 2017 - 08:49
Hackenberg completed 18 of 25 passes for 127 yards in the 7-3 win over the Tennessee Titans , his only turnover a botched snap. Bryce Petty got mop-up duty, playing one series in the third quarter and the entire fourth.

isis-killer-beheading-video-story-top Pearson roars back to win world 100m hurdles gold
Aug 13, 2017 - 08:11
American veteran Dawn Harper Nelson was second, .04 seconds behind, and Pamela Dutiewicz of Germany took bronze in 12.72. Quote of the day: "Every single emotion that you can hold in your body just came out when I crossed that finish line".

isis-killer-beheading-video-story-top HBO offered $250K to hackers to buy time, leaked email says
Aug 13, 2017 - 08:09
An automated response was returned with an image of the HBO "bounty" offer, Reuters said. Variety earlier reported details about the $250,000 offer.

isis-killer-beheading-video-story-top Canadian pastor freed N.Korea jail
Aug 13, 2017 - 07:50
Freeland said Canada is "working with our global partners to seek a resolution, a de-escalation" in the situation. He was serving life imprisonment after being convicted of anti-state activities two years ago.

isis-killer-beheading-video-story-top Trump threatens North Korea with "big trouble" over Guam
Aug 13, 2017 - 07:24
Japan and South Korea have also vowed a strong reaction if the North were to go through with the plan to attack Guam . Trump has said he would not allow Pyongyang to develop a nuclear weapon capable of hitting the United States.

The Great American Eclipse Era Is About To Begin
Aug 13, 2017 - 07:23
Be sure to join us sometime between 11 a.m. and 1 p.m.to learn about the solar eclipse and-most importantly-how to view it safely. When the period of total eclipse ends for viewers near Charleston, S.C., it will be 2:49 p.m. both there and here in Baltimore.

isis-killer-beheading-video-story-top BBCI: Venezuela crisis: Latin Americans condemn Trump over 'military response'
Aug 13, 2017 - 07:19
Venezuelan Defense Minister Vladimir Padrino called Trump's talk of possible military action a "crazy act". On Friday morning, Trump said "military solutions are now in place" should " North Korea act unwisely".

isis-killer-beheading-video-story-top Military solutions 'locked and loaded', Trump warns North Korea
Aug 13, 2017 - 07:12
And island dwellers say they fear a powerful typhoon more than the wrath of North Korean leader Kim Jong Un . USA military options range from nothing to a full-on conventional assault by air, sea and ground forces.

isis-killer-beheading-video-story-top Man Utd: Expect a title challenge from Mourinho's men
Aug 13, 2017 - 07:09
He said: "When I joined Manchester United past year I thought immediately that we needed a Matic kind of player". City is much more equipped to launch a sustained title challenge, with Guardiola close to having his ideal squad.

isis-killer-beheading-video-story-top Arsenal v Leicester: Premier League betting preview and tips
Aug 13, 2017 - 06:59
The attacking left-back, who sometimes features in midfield, is great value for money at £5.5 million. He has proved to be a deadly finisher in his Premier League career, needing just a sniff of a chance.