North Korea's latest nuclear test has sparked worldwide condenmation and calls for further sanctions. Hurricane Irma revised to a category 5 on its path through Caribbean to Florida.
Investors opened the week following Labor Day holiday on a cautious note given the rising geopolitical tensions and category 5 hurricane. Dow plunged 233 points or -1.06%, the S&P 500 dropped 18.70 points or -0.76% while the Nasdaq also fell 59 points, or -0.93%. Financials and property & casualty insurance were amongst the worst performers while oil and mining were among the leading industries.
10-year Treasury dropped to its lowest decline since November to 2.06%. Gold too hewed close to its highest point since the US election. Oil prices also made gains up at finish +2.69% to $1,343.70 per ounce.
- Dow 21,753.31 -1.06%
- S&P 500 2,457.85 -0.76%
- Nasdaq 6,375.57 -0.93%
- Russell 2000 1,399.66 -0.98%
- NYSE Composite 11,827.16 -0.76%
- Gold 1,343.7 +0.99%
- Oil WTI $48.55 +2.69%
- 10-Year Treasury 2.068 -0.09%
Individual stocks like TripAdvisor (+4.23%), Seagate (+2.99) and Campbell Soup (+2.80) were among the leading stocks on the S&P 500. The biggest fallers were Everest Re (-6.92%), Brighthouse Financial (-5.93%) and United Technologies (-5.69%).
Hurricane Irma latest threat
Hurricane Irma strengthened to 180mph storm is expected to rip through Caribbean islands on Tuesday. It has the potential to reach Florida on Sunday at the same intensity.
Puerto Rico which is the first island where Hurricane Irma is to hit is bracing for full impact. Florida has declared a state of emergency.
Hurricane Irma caused investor worries on the US stock markets after it was upgraded to the highest category of storms.