North American stocks may falter at Wednesday’s open morning amid anxiety over reports that North Korea test-fired a series of missiles.

North Korea launched a seventh missile Wednesday, South Korean and Japanese officials said, following an earlier test-fire of six ballistic missiles that included a long-range missile.

Asian stocks fell on the news, with Japan’s Nikkei 225 dropping 0.7%, or 114.56 points, to close at 15,523.94.

In Hong Kong, the Hang Seng index fell 101.80 points to 16,267.18,

European markets also slid.

In today’s economic news, a report on May U.S. factory orders is due at 10:00 ET. Economists expect the orders to rise 0.1% after a 1.8% decline in April.

The Canadian dollar slipped 0.03 cent against the American dollar to US90.32 .

In financial news, France’s Credit Agricole said it was no longer interested in buying Alliance & Leicester, an announcement that sent the United Kingdom bank’s shares tumbling more than 6% early Wednesday.

Scor said it is buying German reinsurer Revious for $775 million to make it the fourth-largest life re-insurer in the world. Scor shares rose 4% in Paris on the move.

Crude-oil futures edged 8¢ lower to US$73.85 a barrel early Wednesday.

On Tuesday, Toronto stocks rallied today largely on the strength of the materials and financials sectors — despite the fact U.S. markets were closed for Independence Day festivities.

The S&P/TSX composite index climbed 120.32, or 1.04%, to 11,733.19 on much lower than average volume.

The S&P/TSX Venture composite index gained 29.42 points, or 1.12%, to 2,604.62.