Dow Futures Plunge as North Korea Missiles Join Trump’s Problems
Nov 28, 2019
A woman watches a news program reporting North Korea’s firing unidentified projectiles with a file image of North Korean leader Kim Jong Un, in Seoul, South Korea, Thursday, Nov. 28, 2019. | Source: AP Photo/Lee Jin-man
Dow Jones Industrial Average (DJIA) futures fell 100 points on Thanksgiving Thursday.
North Korea reportedly fired two short-range missiles into open waters near Japan.
Geopolitical tensions flare for Trump after his Hong Kong bill threatens to derail US-China trade negotiations.
Dow Jones Industrial Average (DJIA) futures took a 100 point hit on Thursday morning. While the US stock market is closed for Thanksgiving, traders are still active on the futures market.
Kim Jong Un has given Trump until the end of the year to wind down the economic sanctions on his authoritarian state. Bloomberg sources claim that Kim Jong Un has grown frustrated by the lack of progress from the US after the largely ceremonial meeting at the DMZ.
A spokesperson for the State Affairs Commission – an institution run by Kim – said Trump faces a “great threat” if it does nothing.
It’s been two years since the infamous “fire and fury” incident where North Korea tested a ballistic missile capable of reaching the US. The years since saw a diplomatic truce between Trump and Kim, but the two sides still don’t agree on the issue of denuclearization.
Trump riles China over Hong Kong
The North Korea missile adds yet more pressure on Trump after he angered China late on Wednesday night. The president passed two bills in support of Hong Kong protestors.
I signed these bills out of respect for President Xi [Jinping], China and the people of Hong Kong. They are being enacted in the hope that leaders and representatives of China and Hong Kong will be able to amicably settle their differences, leading to long-term peace and prosperity for all.
China’s Ministry of Foreign Affairs condemned Trump’s “sinister intentions” for interfering with Hong Kong. Analysts believe the move may weaken Xi Jinping’s image in China and trigger a series of countermeasures in the ongoing trade war.