Markets Right Now: Dow average ends a 10-day winning streak

The Latest: Trump says US nuke arsenal 'stronger' than ever

At 9:37 a.m. ET (1337 GMT), the Dow Jones Industrial Average was down 49.62 points, or 0.22 percent, at 22,035.72, the S&P 500 was down 8.01 points, or 0.32 percent, at 2,466.91.

North Korea said it was considering a missile strike on the US military base in Guam, as US President Donald Trump threatened Pyongyang with "fire and fury".

The back-and-forth came on the heels of reports the US intelligence community has determined North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles.

Unit labor costs had been expected to climb by 1.2% compared to the 2.2% jump that had been reported for the previous quarter.

The Labor Department said job openings surged up to a record 6.2 million on the last business day of June from 5.7 million on the last business day of May. Economists had expected productivity to increase by 0.7%.

Remarks by Federal Reserve officials may also attract attention later this week, as traders look for clues about the outlook for monetary policy. With the drop, the index fell to its lowest closing level in a month.

The weakness among oil service stocks comes even though the price of crude oil for September delivery is inching up USD0.01 to USD49.18 a barrel.

Declining issues outnumbered advancers on the NYSE by 1,859 to 737. Depomed (DEPO) posted a particularly steep loss after lowering its full-year guidance.




Markets in Canada's largest centre were set to follow global markets lower on Wednesday as investors held back from betting on riskier assets amid escalating North Korea tensions.

Five of the 11 major S&P sectors were higher, with the leader technology index.SPLRCT up 0.4 percent.

Steel, networking, and financial stocks are also seeing notable weakness in mid-day trading, although selling pressure is somewhat subdued. While the U.K.'s FTSE 100 Index has fallen by 0.6 percent, the German DAX Index is down by 1.1 percent and the French CAC 40 Index is down by 1.5 percent.

Bond prices didn't move much.

Nevertheless, traditional safe havens jumped, with the benchmark 10-year USA note yield hitting its lowest level since June 28 and gold futures surging more than 1 percent.

On the United States economic front, the Labor Department released a report showing labor productivity increased by slightly more than expected in the second quarter.

Trader reaction to company earnings also contributed to the slide on Wall Street, which had been trading in record territory.

Crocs (CROX), Office Depot (ODP), and Wendy's (WEN) are also among the companies due to report their results before the start of trading on Wednesday.

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