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Stocks fall after Trump warning

Wednesday, August 09, 2017 - 01:06

Wall Street extended their losses Tuesday after President Donald Trump issued a warning to North Korea. Fred Katayama reports.

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Wall Street extended its losses Tuesday afternoon after U.S. President Donald Trump said North Korea would be met with "fire and fury" if it threatens the U.S. again. The Dow snapped its ten-day winning streak after earlier hitting intraday highs. The Dow and the S&P 500 clung to small gains Tuesday after hitting intraday record highs. Tech stocks beat back weakness in healthcare and materials shares. The biggest driver behind the three indexes: Apple. The Dow extended its winning streak studded with record closes into an eleventh day. Financials, energy and tech stocks leading Wall Street higher. Wells Fargo Asset Management's Margie Patel: SOUNDBITE: MARGARET PATEL, SENIOR PORTFOLIO MANAGER, WELLS FARGO ASSET MANAGEMENT, (ENGLISH) SAYING: "What's interesting today and what we've seen over the last few weeks is a lot more stability in the Dow and Standard & Poor's, and the real volatility has been in the Nasdaq which has either been up a lot mostly because of FANGs (Facebook, Amazon, Netflix, Google) or down a lot." Marriott International's shares falling .The world's largest hotel chain narrowed its revenue forecast. Shares of Michael Kors jumped. The clothing and accessories retailer lifted its revenue forecast for the full year. Ralph Lauren climbed. The luxury apparel retailer swung to a quarterly profit from a loss, and earnings topped Wall Street's expectations. European markets edged higher. Strong gains in utilities and auto stocks ouweighed losses from Pandora.

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Stocks fall after Trump warning

Wednesday, August 09, 2017 - 01:06