There is good reason to believe that stock markets in Asia will suffer over the next several days as North Korea detonated another nuclear device. Taken together with proof that it can launch long-range missiles, the threat to Japan and South Korea has worsened.
According to The New York Times:
North Korea confirmed on Tuesday that it had conducted its third, long-threatened nuclear test, according to the official KCNA news service, posing a new challenge for the Obama administration in its effort to keep the country from becoming a full-fledged nuclear power.
The KCNA said it used a "miniaturized and lighter nuclear device with greater explosive force than previously" and that the test "did not pose any negative impact on the surrounding ecological environment."
Filed under: 24/7 Wall St. Wire, International Markets, Politics