Stocks (^DJI, ^GSPC, ^IXIC) were slammed Tuesday with the Dow dropping over 200 points as North Korean saber-rattling has traders seeking safety. Plus, we have more on the fallout from President Donald Trump’s decision to end DACA, a program that let certain undocumented immigrants stay in the US if they had come here as children.
Also, a one-two punch will hit the South as Irma achieves mega storm status. We will discuss why this one could hurt the insurers — badly. Catch The Final Round at 4 p.m. with Myles Udland and Yahoo Finance markets correspondent Nicole Sinclair.
Winners and losers
Stocks in the red today include Mallinckrodt as the drugmaker’s patents for a respiratory treatment were invalidated; Progressive as the insurer and others are getting hit ahead of Hurricane Irma, and Cellectis — shares of the biotech name are tumbling after the FDA put its AML treatment trial on hold following the death of a patient.
Stocks in the green include Insmed as the company’s lung cancer treatment met its primary endpoint in a phase 3 trial; Skyworks Solutions as Citi upgraded the chipmaker to “buy” from “sell” with a $125 price target, and MSG — traders are bidding up shares of the New York Knicks and Rangers owner after billionaire Tilman Fertitta bought the Houston Rockets for a record $2.2 billion.
Sports teams the next bubble?
For more on the record sale of the Houston Rockets and the latest on just how hot valuations are getting in the sports franchise and media space, we are joined by Yahoo Finance sports business reporter Dan Roberts.