North Korea Deal: Caution Follows

The Stalinist state has agreed to end its nuclear weapons program in exchange for oil and other guarantees, but a real deal will take years

You'd think the prospect of a resolution to North Korea's quest for nuclear weapons, a geopolitical risk with heavy economic implications for Asia, would have touched off a regionwide stock rally on Feb. 13. After all, wire-service reports and cable networks such as CNN had been signaling all day that some sort of deal had been brokered in Beijing, where the latest round of six-party talks with Pyongyang was unfolding.

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