North Korea test-fires anti-ship cruise missiles

North Korea test-fired multiple anti-ship missiles off its east coast Thursday, South Korea's military said. The four surface-based missiles were apparently launched from near the coastal city of Wonsan, and traveled about 125 miles into the Sea of Japan. The launches came a day after South Korea suspended the deployment of the controversial U.S. THAAD missile-defense system, and a week after the United Nations Security Council imposed new sanctions on North Korea for its ballistic missile tests. North Korea has recently stepped up its missile testing, including nine ballistic missile tests so far this year, as tensions with the U.S. have risen. Three U.S. aircraft carrier groups are reportedly in the western Pacific as a show of strength against North Korea, which has repeatedly defied the U.S. and United Nations in developing its ballistic missiles and nuclear-weapons program.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.