Investors Pile into Safe-Haven Assets as North Korea Examines Strike on Guam
This is what you need to know before you start trading on Wednesday:
1. European stocks fell sharply across the board Wednesday as investors around the world piled cash into safe-haven assets amid increasingly dangerous rhetoric between North Korea and the United States.
2. Officials in North Korea said they were "carefully examining" a strike on Guam, which is home to around 163,000 people and two U.S. military installations and threatened a further "all-out war wiping out all the strongholds of enemies, including the U.S. mainland" in a government statement.
3. Shares of Walt Disney Co. (DIS) - Get Report fell 3.7% in premarket trading on Wednesday after the media giant posted mixed third-quarter results, said it would be pulling its movies off Netflix, and announced it would launch an ESPN streaming service in 2018 and start its own branded direct-to-consumer streaming service in 2019.
4. Netflix Inc. (NFLX) - Get Report shares tumbled 3.8% in premarket trading Disney said it would pull its content from the streaming service. Disney's licensing deal with Netflix expires in 2019.
5. U.S. stock futures were falling, European shares declined and Asian shares traded mostly lower on Wednesday. The U.S. dollar, which gained against both the euro and the pound in overnight trading in Asia, trimmed its advance as investors moved into gold.
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