Daily Rewind ⏪
Markets respond to North Korea, Trump surveys Harvey relief efforts, and more.
Markets drop after North Korea files a missile over Japan:
- The threat from North Korea sent investors reeling today. The Dow climbed 57 points at the close after a rough morning. Japan’s Nikkei sank 0.5% and European stocks fell nearly 1%.
- President Trump warned North Korea that “all options are on the table” following the Tuesday night launch. The U.N. Security Council has already sanctioned North Korea’s primary exports, including coal, iron and seafood. But the missile launch could inspire even more sanctions.
- Earlier this month, North Korea announced it was “examining the operational plan” to strike areas around the U.S. territory of Guam. Trump responded by saying that North Korea would be met with “fire and fury” if it makes any more threats against the U.S.
Trump surveys relief efforts after Harvey:
- The president is heading to Texas today as the state prepares for more torrential rainfall and flooding.
- More than 17,000 people have fled to shelters across Texas. Houston police have rescued at least 3,400 people so far.
- The total destruction could cost about $42 billion, according to an estimate by Enki Research firm. Losses from the winds and storm surge alone could reach more than $2.3 billion.
- 10 oil refineries along the Gulf Coast have been forced to close. The closures will send gasoline prices up at the pump, though it may take about a week for drivers to see the price change.
Other important news:
*YouTube announces a new logo and design (YouTube Official Blog)
*Google Maps will now help you find parking (The Verge)
*Rupert Murdoch will stop broadcasting Fox News in the U.K. (The Guardian)
That’s all for today. We’ll see you again tomorrow!
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Correction: An earlier version of this story said that the Dow dropped at the close. In fact, it rose 57 points.