Wall Street Retreats as Geopolitical Concerns Persist

U.S. equities dropped as investors remained worried about geopolitical developments, which eventually pushed safe-havens higher. Adding to the sour mood, North Korea state media warned of a nuclear attack on the United States once provoked, as a U.S. Navy strike group moved towards the western Pacific.

The Dow Jones industrial average slipped 0.03 percent to 20,651, with Apple leading losses while McDonald's was the best performer. The S&P 500 shed 0.14 percent to 2,353, as technology led seven sectors down while real estate was the top gainer. The Nasdaq composite tumbled 0.24 percent to 5,886.

The CBOE Volatility Index (VIX), considered the best gauge of fear in the market, is up more than seven percent at 15.14. The index has traded over ten percent higher earlier in the session. Investors are counting on strong corporate earnings to help justify pricey valuations.

The financial sector fell 0.3 percent and the technology dropped 0.4 percent. Among shares active on corporate news, United Continental slipped 1.1 percent following a worldwide backlash against the airline as a passenger was reportedly pulled off of one of its flights. Late in the trading session, its chief executive issued an apology.

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