US stocks fall on worries about N Korea, Irma

AFP . New York | Update:

Wall Street stocks fell early Tuesday on worries about North Korea and as another major hurricane approached the United States.

After the US ramped up the rhetoric over North Korea’s nuclear activities, Russian President Vladimir Putin warned of a global catastrophe unless a diplomatic solution is reached.

But Putin rejected US calls for more sanctions as “useless,” widening a split among major powers over how to rein in Pyongyang.

Meanwhile, Irma, a dangerous, monster-sized hurricane was moving towards the Caribbean islands at about 270 miles from east of the island of Antigua.

Less than two weeks after Hurricane Harvey inundated Houston and the US Gulf Coast, forecasters warn the storm could hit Florida and other Atlantic coast states.

Analysts said seasonal factors are also working against stocks, with September traditionally one of the worst months for equity performance.

About 15 minutes into trading, the Dow Jones Industrial Average was at 21,892.15, down 0.4 percent.

The broad-based S&P 500 also lost 0.4 percent to 2,467.30, while the tech-rich Nasdaq Composite Index dropped 0.5 percent to 6,403.85.

Airplane parts supplier Rockwell Collins rose 1.0 percent following the announcement it agreed to be bought by conglomerate United Technologies for $30 billion. Dow member United Technologies fell 2.8 percent.

   
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