Stock market set for downbeat open as North Korea standoff intensifies

New York (CBS Marketwatch, Sept 5,2017): U.S. stocks were poised to open lower on Tuesday, as investors returned from a long weekend and got their first chance to respond to the heightened tensions between the West and North Korea.

Wall Street was also waiting to hear from a trio of Federal Reserve speakers during Tuesday’s session, looking for hints on the future path of interest rates.

Futures for the Dow Jones Industrial Average YMU7, -0.33%  lost 60 points, or 0.3%, to 21,920, while S&P 500 index futures ESU7, -0.23%  fell 5.45 points, or 0.2%, to 2,468.75. Nasdaq-100 index futures NQU7, -0.24%  gave up 9.25 points, or 0.2%, to 5,979.

U.S. markets were closed for trade on Monday in observance of Labor Day, but U.S. stock futures traded in negative territory. European and Asian markets sold off on Monday, while gold and the yen advanced in a wider flight to assets perceived as less risky.

See: How North Korea’s nuclear test rattled markets—in 5 charts

The standoff between North Korea and the U.S. and its allies escalated over the weekend after Pyongyang said it had successfully tested its largest ever nuclear bomb. The isolated regime is said to be ready to launch a new intercontinental ballistic missile as soon as this Saturday when the country celebrates its founding day.

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