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Wall St. falls on North Korea warnings, tech selloff
https://www.reuters.com/article/us-usa-stocks/wall-st-falls-on-north-korea-warnings-tech-selloff-idUSKCN1C01FI(Reuters) - A sharp selloff in technology stocks dragged down the Nasdaq by more than 1 percent on Monday, with North Korea’s latest warnings to Washington adding to the downbeat mood.
North Korea’s foreign minister said President Donald Trump had declared war on the country and that it reserves the right to take countermeasures, including shooting down U.S. bombers even if they are not in its airspace.
The comments pushed up demand for safe-haven assets, with gold rising 0.9 percent.
“We’re certainly in a heated-up time frame,” said Art Hogan, chief market strategist at Wunderlich Securities in New York.
North Korea’s foreign minister said President Donald Trump had declared war on the country and that it reserves the right to take countermeasures, including shooting down U.S. bombers even if they are not in its airspace.
The comments pushed up demand for safe-haven assets, with gold rising 0.9 percent.
“We’re certainly in a heated-up time frame,” said Art Hogan, chief market strategist at Wunderlich Securities in New York.