Wall Street swings lower on North Korea fears


The Nasdaq Composite Index declined 0.2% to 6370.46 and the Standard & Poor's 500 Index slid 0.2% to 2474.92. The Nikkei Index fell 1.3% and closed the day at 19,738.71. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 5.8 basis points at 2.225%.

Oil prices settled lower after a volatile session on increasing exports from key OPEC producers and news of lower crude shipments from Saudi Arabia.

The dollar pared gains slightly after Trump's North Korea comments, still supported by the job market data which underscored the view that the Federal Reserve has ammunition to continue on its tighter monetary policy path.

Reports early on Tuesday indicated that North Korea was able to build nuclear bombs small enough to fit on a missile.

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

"Equity markets have behaved as you would expect by selling off sharply, an entirely predictable outcome at any time but more so when volatility levels are as low as they are now", Michael Hewson, chief market analyst at CMC Markets UK, said.

Along with his promise of fire and fury, President Trump tweeted Wednesday morning that our country's nuclear arsenal is stronger than ever, saying, "Hopefully we will never have to use this power".

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President Xi Jinping called for "all-out efforts to rapidly organise relief work and rescue the injured" in the Sichuan quake. The quake came on the same day that state media reported heavy rains had killed at least 23 people in the province.

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Stifel Nicolaus has "Buy" rating and $26800 target. (NYSE:DRI) has "Overweight" rating given on Tuesday, May 17 by Piper Jaffray. Investor speculation and demand also help increase a share's price over time. 37 funds opened positions while 82 raised stakes.

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Thomas Martens , 67, and Molly Corbett, 33, both claimed self-defence in the 2 August 2015 killing of Jason Corbett. Molly Corbett told investigators that she tried to hit Jason Corbett in the head with the concrete paving brick.

Beyond geopolitical concerns, investors continued to size up company earnings reports. Netflix fell 3.2 percent.

Shares of SeaWorld Entertainment Inc. slid 6.2 percent after the theme park operator reported second-quarter revenue that fell short of Wall Street's expectations.

Stock movers: In other moves, Worldpay Group PLC shares (WPG.LN) picked up 1.3% after Vantiv Inc.

G4S (LON:GFS) shares dropped 4.8% despite the security services provider reporting a rise in profits for the firs half but chose to keep its interim dividend flat. Walt Disney stock paced the 14 losers, dropping 3.9%, while McDonald's finished flat.

The Nasdaq is up 987.34 points, or 18.3 percent.

Health care and technology companies were among the biggest decliners, outweighing gains in utilities stocks. Wells Fargo still ended up 0.3 percent at $52.71. Brent crude, the worldwide standard, lost 23 cents to $52.14 a barrel in London. Platinum gained 0.7 per cent to $973.40 per ounce after hitting its highest since April 21 in the previous session.