News that North Korean jets intercepted a U.S. spy plane over international waters this weekend has sent stocks to their lows of the session. The news comes just days after North Korea had complained that U.S. spy planes had made 180 flights over North Korea in February.
It should be noted that "intercept" is being used with "encountered" as there were no reports that North Korean jets showed any aggression toward the spy plane, which was over international waters at the time of the encounter.
The news of the spy plane encounter did have the Dow Industrials (INDU) 7,827 -0.81% extending losses from the 7,840 level, and had the tech-heavy NASDAQ-100 Index (NDX.X) 988 -2.07% turning lower from the 995 level.
Speaking of planes, the Airline Index (XAL.X) 29.49 +3.03% is today's sector winner after UAL Corp. (NYSE:UAL) $1.07 -0.92%, which is currently in Chapter 11 Bankruptcy, said its business- fare sale that began January 6, has bolstered revenue by $20 million to $25 million a month. Shares of AMR Corp. (NYSE:AMR) $2.64 +12.8%, which is the parent company of American Airlines leads sector gainers.
Shares of Intel (NASDAQ:INTC) $16.66 -3.41% leads the Semiconductor Index (SOX.X) 285 -4.02% lower ahead of Thursday afternoon's mid-quarter update from the world's largest maker of chips.
Treasuries finished their session mostly higher. Fractional gains were found in the longest-dated 30-year bond with its March futures contract (us03h) $115'280 +0.05% finishing in positive territory, while the benchmark 10-year Treasury future contract (ty03h) $116'290 +0.16% showed gains on the session, with the bond's YIELD ($TNX.X) falling to 3.676%.