Stocks regained their footing to close higher on Tuesday as investors evaluated the tension between the U.S. and North Korea.
The Dow Jones industrial average erased earlier losses to trade about 40 points higher, with United Technologies and Boeing contributing the most to the gains. The index fell as much as 134.82 points earlier in the session. The Nasdaq composite also erased losses to trade 0.34 percent higher after Apple hit a record high. The S&P 500 turned positive in afternoon trade, holding 0.1 percent higher, with industrials leading four sectors higher.
Tensions between North Korea and the US have, in our view, reached levels unseen since 1994, when the Clinton administration considered air strikes on North Korea.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, briefly rose more than 20 percent.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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