'Fire and fury' ends Dow's winning streak

Dow Jones Industrial Average

The major USA stock index futures closed lower on Tuesday after President Donald Trump issued a warning to North Korea, saying that its threats will be "met with fire and fury".

The broad-based S&P 500 dipped to 2,474.92, and the tech-rich Nasdaq Composite Index dropped to 6,370.46.

Dow e-minis were down 35 points, or 0.16 percent, with 37,467 contracts changing hands at 8:40 a.m. ET (1240 GMT).

His comments follow on from reports that North Korea had successfully produced a nuclear warhead that could be fitted inside its missiles.

North Korea on Wednesday said it was considering a missile strike on the U.S. Pacific territory of Guam, which is home to a U.S. military base. In a statement delivered at his Bedminster, New Jersey golf club, Trump said, "North Korea best not make any more threats to the U.S. They will be met with fire and fury like the world has never seen".

Technology and consumer-focused companies helped lift US stocks higher in afternoon trading Tuesday, steering the market indexes further into record territory.

In the Dow, declines in shares of Merck and DuPont, down 0.9% and 0.8% respectively, outweighed gains in shares of Apple and Microsoft, up 1.3% and 0.7% respectively.

North Korea Frees Canadian Pastor Sentenced to Life of Hard Labor
The Canadian government is not confirming the release yet, but did acknowledge that it sent a delegation to discuss the case. Warmbier arrived to the U.S.in a vegetative state and died six days after his release .

After a dip of as much as 0.52 percent earlier in the day, investors appeared to take some comfort in Tillerson's comments, said Richard Steinberg, managing director at HighTower Advisors in NY. Japan's Nikkei 225 slipped 0.3 percent, while Australia's S&P/ASX 200 lost 0.5 percent.

The Dow snapped a ten-day winning streak, including nine consecutive record highs. Energy stocks fell along with crude prices as investors kept an eye on the latest company earnings and geopolitical news.

Bill Northey, chief investment officer at U.S. Bank Private Client Group in Helena, Montana, said the market's risk-off move on North Korea tensions has been relatively shallow. It fell 19 cents, or 0.4 percent, to $49.39 per barrel Monday in NY.

The benchmark 10-year yield jumped to trade at 2.28% after the jobs openings and labour turnover survey showed a record number of job openings for June.

Politics lifted US defense stocks. Brent crude, the worldwide standard, lost 28 cents to $52.09 a barrel in London.

The yield on the 10-year US Treasury note rose to 2.282% from 2.258% on Monday. Elsewhere, the German Dax has opened down 0.80%, France's CAC40 index is down 0.87%, and the Euro Stoxx 50 is down 0.81%.

Despite Tuesday's declines, market volatility remains abnormally low.

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