Markets Right Now: Dow average ends a 10-day winning streak

The Latest: Trump says US nuke arsenal 'stronger' than ever

"For all these variables to move significantly further would require an actual act of hostility - signs that the preparing an attack on North Korea and / or actual launching of missiles by North Korea, for example".

Currently, the major averages are well off their worst levels but stuck in the red. The Nasdaq Composite Index declined 0.2% to 6370.46 and the Standard & Poor's 500 Index slid 0.2% to 2474.92.

The weakness on Wall Street reflects geopolitical concerns amid a continued increase in tensions between the USA and North Korea.

The president warned Pyongyang that any more threats would be met with "fire and fury like the world has never seen".

North Korea seemed unfazed by the president's bluster, however, as state media carried a statement indicating the communist nation is "carefully examining" a plan to strike the US Pacific territory of Guam.

A notable decline by Disney (DIS) is weighing on the Dow, with the entertainment giant slumping by 3.9% on the day. Fashion chain Michael Kors jumped nearly 22 percent, after better than expected results.

Following two relatively quiet days on the USA economic front, trading on Wednesday may be impacted by a report on labor productivity and costs in the second quarter.

On the macroeconomic calendar, Statistics Canada reported Canadian municipalities issued $8.1 billion worth of building permits in June, up 2.5% from May and the second highest value on record. Economists had expected productivity to increase by 0.7%.

Unit labor costs had been expected to climb by 1.2% compared to the 2.2% jump that had been reported for the previous quarter.

Jaguars OT Branden Albert to unretire
The Jaguars, who are holding joint practices with the Patriots in New England, declined comment on the situation Monday . Albert, 32, has earned two trips to the Pro Bowl and remains one of the better pass-protecting left tackles in the NFL .

Stocks fluctuated over the course of the trading session on Tuesday before eventually closing modestly lower.

Oil prices gained 32 cents to $49.49 US per barrel.

Declining issues outnumbered advancing ones on the NYSE by a 1.14-to-1 ratio; on Nasdaq, a 1.11-to-1 ratio favored advancers.

Oil service stocks showed a significant move to the downside on the day, dragging the Philadelphia Oil Service Index down by 1.9%.

Markets in Canada's largest centre were set to follow global markets lower on Wednesday as investors held back from betting on riskier assets amid escalating North Korea tensions.

The Standard & Poor's 500 index fell 4 points, or 0.2 percent, to 2,476.

Safe-haven assets gained following the mounting geopolitical tensions.

Nevertheless, traditional safe havens jumped, with the benchmark 10-year USA note yield hitting its lowest level since June 28 and gold futures surging more than 1 percent.

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