Asian stocks slump on profit-taking amid US-NKorea tensions

Asian stocks slump on profit-taking amid US-NKorea tensions

In his latest warning to North Korea, U.S. President Donald Trump said on Friday military solutions were "fully in place" and referred to American weapons as being "locked and loaded" should the nuclear-armed nation act "unwisely".

On Tuesday, President Donald Trump warned North Korea of "fire and fury" in response to recent threats from Pyongyang, which said it was examining plans for attacking Guam, a US territory in the Pacific with a military base.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.20 percent from 2.25 percent late Wednesday.

Franco Nevada Corp rose 3.9 percent to C$95.65, while Barrick Gold Corp was up 1.9 percent at C$21.26.

The index was also dragged lower after Beijing ordered probes into three major Chinese social networking platforms over outlawed content.

Tensions between Washington and Pyongyang added to pressure from lower oil prices. The Nasdaq composite lost 37 points, or 0.6 percent, to 6,332.

GOT A PULSE: Health care stocks, which have been in a slump, were headed higher.

Unease over the situation pushed the VIX, a measure of how much volatility investors expect in stocks, up 44.4 percent. Nasdaq-100 futures slid 23 points, or 0.4%, to 5,895. Disappointing company earnings also helped pull the market lower, with consumer-focused companies and technology stocks among the biggest decliners.

ANALYST'S TAKE: "The tensions between North Korea and the U.S.is an excuse for profit-taking", Seo Sang Young, an analyst at Kiwoom Securities.

Benchmark U.S. crude fell 22 cents to $49.17 a barrel on the New York Mercantile Exchange.

Investors are losing enthusiasm for Canada's banking stocks as a slowdown in the country's housing market dents banks' growth prospects, with insurance companies seen as a better bet to benefit from higher interest rates.

The U.S. equity market is hovering near record levels and volume has been tepid following the onset of summer.

Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4%. The September copper contract was down two cents to US$2.91 a pound.

LACKLUSTER QUARTER: Office Depot sank 24.5 percent after the office supply company's second-quarter results fell short of Wall Street's projections. Wholesale gasoline dropped 2 cents to $1.60 a gallon, while heating oil shed 2 cents to $1.63 a gallon. Silver gained 14 cents to $16.39 an ounce. The euro strengthened to $1.1756 from $1.1752.

The Labor Department said on Friday its Consumer Price Index edged up 0.1 percent in July, which was below the 0.2 percent rise expected by economists polled by Reuters.

Related News:

  • Tom Cruise injured on MI6 set

    Tom Cruise injured on MI6 set

    Cruise was strapped into a safety device during the stunt but fell short when he jumped between the buildings. Cruise explained , "I was hit by a tiny particle from the runway and I literally thought it broke my ribs".
    Arsenal edge past Leicester in Premier League season opener

    Arsenal edge past Leicester in Premier League season opener

    And once again, Arsenal were statuesque at a set piece, allowing Vardy to bustle to the front post and head past Petr Cech . However, Leicester could prove to be tough opposition, especially if Alexis Sanchez and Mesut Ozil are out, as expected.
    Pastor freed from North Korean prison arrives back in Canada

    Pastor freed from North Korean prison arrives back in Canada

    OTTAWA-A pastor in ontario, who was serving a sentence of life in prison in North Korea finally returned to the country Saturday. The family thanked the Canadian government for helping secure his Lim's release.
  • US, Japan call for stop to land reclamations in South China Sea

    US, Japan call for stop to land reclamations in South China Sea

    North Korea rarely attends, or is even invited to, worldwide forums like the ASEAN meeting. He says he won't give a concrete timeframe but that the USA will "know it when we see it".
    Brexit transition would not be way to remain — Hammond and Fox

    Brexit transition would not be way to remain — Hammond and Fox

    A source close to Mr Davis said the papers would highlight the British teams were "on the front foot" in the negotiations. The two leading politicians said the government wanted to ensure "there will not be a cliff-edge when we leave the EU".

    Alvaro Morata scores his first goal for Chelsea in defeat to Burnley

    I don't like this type of idea, someone sending a message. "It's a big win for us because they're a fine side". In the next game I'm not sure whether Pedro is ready but for sure we'll have (the other) two players.
  • Usain Bolt injured in his final race in the men's relay

    Usain Bolt injured in his final race in the men's relay

    Usain Bolt bows out of mainstream athletics tonight as he runs for the final time at the London Stadium in the 4x100m relay. Host Britain went on to secure gold followed by the USA team including Justin Gatlin .
    Fired engineer James Damore: Google is 'almost like a cult' (GOOG)

    Fired engineer James Damore: Google is 'almost like a cult' (GOOG)

    Ads criticizing Google over firing James Damore have been plastered on benches and bus stops near the company's office in Venice. There may, indeed, be biological differences between the sexes that keep women from excelling in engineering and other sciences.

    Trump to call for China IT trade probe on Monday

    Any investigation that may be launched could take as long as a year to conclude, a third official said. Senate Democratic leader Chuck Schumer took issue with that assessment.
  • Christian Atsu and Javier Manquillo impress Newcastle United fans despite Tottenham loss

    Christian Atsu and Javier Manquillo impress Newcastle United fans despite Tottenham loss

    Much of the team that started on Sunday were stalwarts from Tottenham's most successful Premier League campaign ever last season. The Magpies were forced into early chances in a goalless first half with Paul Dummett and Florian Lejeune coming off.
    At Least One Dead in Violent Protest in Virginia

    At Least One Dead in Violent Protest in Virginia

    A suspect, identified as 20-year-old James Fields from OH , has been detained on suspicion of second-degree murder. During a press conference after the clashes , McAuliffe confirmed that three people have been killed in the city.
    North Korea: US diplomacy is gaining results, says Mattis

    North Korea: US diplomacy is gaining results, says Mattis

    Moon is likely to highlight his policy on North Korea on the holiday, the only one the two Koreas share. Security Council's statement that Pyongyang poses a global security threat.


Most liked

Muslim woman paid 27million after police officer forcefully removed her hijab
Powell made several requests for a female officer to search her and was denied requests to continue wearing her hijab in custody. Powell was the passenger, but was arrested after police found a warrant under her name for a shoplifting incident.

Rams Beat Cowboys 13-10 in 2017 Preseason Opener
Harvey said an example was proof that photographs were taken by Thompson the same day she alleged that she was injured by Elliott. The No.1 overall pick of the 2016 NFL Draft played in seven games as a rookie, and he didn't appear ready to be an NFL starter.

US man arrested for killing mother, sister, another woman with hammer
The friends had taken a trip to attend Carnival in Trinidad and were planning to visit Cuba in the fall. He is scheduled for arraignment on Sunday and is now being kept in Mineola in Nassau County.

US, Japan, Australia urge world to pressure North Korea
The two were reported to have shaken hands at an official dinner event held by the ASEAN (Association of Southeast Asian Nations). The statement also appealed to ASEAN members and China.

NASA reminds public to use ISO-certified eclipse glasses for safe viewing
Another Portland resident, Will Clark, bought eclipse glasses billed as "CE and ISO tested, safe solar viewing". We've reached out to Amazon and MASCOTKING for comment concerning the refunds, and will update if we hear back.

Arsene Wenger sends message to Arsenal fans about Olivier Giroud
Giroud got the victor with an 85th-minute header, and he said afterward that Arsenal never doubted they could come back. When pressed if the forward could leave before the end of the transfer Wenger responded emphatically: "No".

North Korea tensions mount over tough new sanctions at Manila meeting
The sanctions could further choke North Korea's struggling economy by slashing its $3 billion annual export revenue by a third. But Wang, the Chinese envoy, cast Ri's presence in Manila as a positive, enabling him to "hear the voices from other sides".

Borussia Dortmund suspend forward, Dembele 'until further notice'
Dembele has reportedly agreed a five-year deal worth £9m a season with Barca - and rejected overtures from Real Madrid. Borussia Dortmund have confirmed that they have extended Ousmane Dembele's suspension " until further notice ".

Saturday: hit-or-miss storms may still bring locally-heavy rain
By the middle part of the afternoon, spotty showers or storms are possible from the Dallas-Fort Worth area and to the east. Showers will continue on our Saturday evening, but nothing heavy is anticipated in the near future.

Charlottesville Tries To Pick Up Pieces After Day Of Deadly Unrest
Brian Sandoval, denounced violence in Charlottesville linked to a white nationalist rally. The rally had been called to protest the city's decision to remove a statue of Gen.

Tillerson says no 'imminent threat' from North Korea
Kim Rak Gyom said Trump is "extremely getting on the nerves" of his soldiers by making comments that showed his "senility" again. Australia's prime minister says his country would come to the aid of the United States if North Korea attacks Guam.

Philippe Coutinho wants to leave Liverpool for for Barcelona?
I think part of the problem here is that you have to be realistic about these transfers, if he wants to go he wants to go. Roberto Firmino's penalty and a debut goal from Mohamed Salah put Liverpool ahead early in the second half.

Scaramucci: Trump Has to 'Move Away' from 'Bannon-Bart Nonsense'
He has got to move more to the mainstream He has to be where the moderates and independents are that love the president. SCARAMUCCI: Well, I think Alex [Castellanos] mentioned one of the reasons why he doesn't like doing that.

Shares hit by US-North Korea tensions
The pan-European Stoxx 600 ended over 1% lower to a five-month low with nearly all sectors in negative territory. The S&P 500 added 3.11 points, or 0.1%, to 2441.32, ending the week down 1.4%, its biggest loss since March.

Sea Princess has nightly curfew amid waters known for pirates
Rumors swirled onboard the ship, according to Jasinski, who said the ship's captain tried to alleviate passenger's fears. Armed with guns they can sneak up on larger ships and take over the crew, according to Jasinski's essay.