Investors take a breath as US Stocks end winning streak

(EDITORIAL from Korea JoongAng Daily on Aug. 7)

Commenting on Wednesday's geopolitical events, Mike van Dulken at Accendo Markets said: "Equities are nursing losses thanks to an unwelcome (unless of course you're short!) escalation in geopolitical tensions between the U.S. and North Korea, both trading nuclear threats that have awoken volatility from its slumber and seen risk assets shunned in favour of the traditional safe havens".

Chinese stocks seemed little affected though, and Australian stocks rose Wednesday after a weaker Tuesday amid strong earnings reports from big banks.

MARKETS ABROAD: In Europe, Germany's DAX rose 0.3%, and France's CAC 40 gained 0.2%.

"We are encouraged by our first-quarter performance, although we continue to believe that fiscal 2018 will be a transition year for our company, as we focus on laying the foundation for the future by executing on our strategic plan", he said. The Standard & Poor's 500 index dropped 1.4 percent to 2,438.21.

USA equities steepened their losses late in the session after President Donald Trump said his earlier warnings to North Korea may not have been tough enough. US officials attempt to calm US-North Korea tension appeared to sedate anxious investors.

"If we break above this downtrend, then we potentially open up the region up to $1,300, the recent highs we saw in April and June", Butler said.

Gold prices continued to move higher for the second day yesterday and the prices are trading comfortably above $1270 as of this writing.

THE QUOTE: "Risk-averse sentiment is dominating global equities markets, and US indices have retraced from record levels over the last two days".

The Dow Jones Industrial Average fell 94.55 points, or 0.43 percent, to 21,954.15, the S&P 500 lost 19.51 points, or 0.79 percent, to 2,454.51 and the Nasdaq Composite dropped 76.39 points, or 1.2 percent, to 6,275.94.

In Europe, the pan-continental STOXX 600 index fell 0.9pc, with falls deepening after a vehicle rammed a group of soldiers in Paris, injuring six, in what officials said was a suspected terrorist attack. Netflix lost 1.5 percent.

"Risk aversion is once again the name of the game.as geopolitical tensions mount and investors head for cover in the traditional safe havens", said Oanda analyst Craig Erlam.

Benchmark 10-year notes were last up 12/32 in price to yield 2.201 percent, from 2.242 percent late on Wednesday.

He said: "Equity markets, including Korea, have tended to react less and less to this posturing - the Korea Composite Stock Price index was only down 1% on Tuesday". The contract fell 97 cents, or 2 percent, to close at $48.59 a barrel on Thursday.

Asian equity markets extended a global slide on Friday, sending investors fleeing to less risky assets such the yen, the Swiss franc and US Treasuries.

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