North Korea Tensions Ease, S&P500 Index Jumps Most Since Late-June
Aug, 14th 17:44
U.S. shares advanced on Monday, recovering from last week’s sharp losses caused by tensions between the U.S. and North Korea. While the Dow Jones Industrial Average jumped more than 0.7 percent, the Nasdaq Composite Index soared more than 1.2 percent.
Tensions over North Korea eased thanks to comments from U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson that showed Trump administration was seeking diplomatic solutions to achieve the “irreversible denuclearization” of North Korea.
The S&P 500 index also climbed more than 1 percent on Monday, supported by technology and financial shares. All of the S&P 500 index’s primary sectors gaining on the day, helping the stock gauge recover from the biggest one-week percentage drop of 1.4% last week since March.
The index also looked set to record the biggest one-day percentage rise since June 28th. Topping the market, technology sector jumped 1.4% while financial sector advanced 1.48%.
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