U.S. Futures Fall on Missile; Gasoline Up on Storm: Markets Wrap
- Insurers among the biggest decliners in the S&P 500 Index
- Harvey hits energy-related assets; gold breaches $1,300
Harvey Pounds Texas With Epic Flooding
This article is for subscribers only.
U.S. stocks futures slumped and the yen climbed after reports that North Korean fired a missile over Japan, heightening geopolitical tensions. Oil declined and gold broke through $1,300 an ounce as investors weighed the damage from Tropical Storm Harvey.
September contracts on the S&P 500 Index dropped 0.7 percent as of 6:04 p.m. in New York, while the yen strengthened through 109 per dollar. An exchange-traded fund tied to the equity benchmark, ticker SPY, lurched just after 5 p.m., losing about half a percent in five minutes, on news the missile probably landed off the eastern coast of Hokkaido, according to Japanese broadcasting service NHK.