Stocks Opened Lower as North Korea Tensions Escalated

U.S. stocks opened lower on Wednesday amid escalating tensions between North Korea and the United States. The Dow Jones Industrial Average lately fell 58.38 points, or 0.26%, to 22,026.96. The S&P 500 lost 8.05 points, or 0.33%, to 2,466.87. The Nasdaq Composite dropped 45.62 points, or 0.72%, to 6,324.84.

Oil futures declined early Wednesday amid a broader risk-off move in financial markets as tensions between the U.S. and North Korea built anew. Light, sweet crude futures for delivery in September was recently down 15 cents, or 0.4%, at $49.02 a barrel. October Brent crude eased 21 cents, or 0.4%, to $51.93 a barrel.

The productivity of U.S. workers accelerated a bit in the second quarter as economic growth accelerated, though it remains well below historical average. Productivity rose at an annual rate of 0.9% in the second quarter from the prior three months, the Labor Department said Wednesday.

U.S. broadcaster Tribune Media Co (TRCO) reported a lower-than-expected quarterly profit, hurt by higher programming costs. Total programming costs rose 27.9 percent to $157.1 million in the second quarter ended June 30. The company’s net loss narrowed to $30.4 million, or 35 cents per share, in the second quarter, from $161.6 million, or $1.76 per share, a year earlier.Total operating revenue fell 2.1 percent to $469.5 million.