Stocks plunge over North Korea tensions

Stocks plunge over North Korea tensions

The UK's stock market has opened lower as worries over the situation between the USA and North Korea continue to rattle investors.

Late in the session, U.S. President Donald Trump said perhaps his threat to unleash "fire and fury" on North Korea "maybe wasn't tough enough".

The Dow Jones industrial average closed up 14 points, a gain of 0.07 percent, the Nasdaq composite rose almost 40 points or 0.64 percent and the S&P 500 gained 3 points or 0.13 percent. Hong Kong slumped 2.04 per cent, Shanghai slipped 1.63 per cent, Korea shed 1.69 per cent, Jakarta fell 1.03 per cent. Singapore shares also ended in negative territory as increasingly bellicose talk between the United States and North Korea prompted investors to take money off the table, while traders trimmed positions ahead of the weekend.

If North Korea launches an attack that threatens the US, China should stay neutral, but if the US attacks first and tries to overthrow North Korea's government, China will stop them, a Chinese state-run newspaper has said.

ANALYST TAKE: "Equities look set to end this week on a downer, as geopolitical uncertainty regarding North Korea shakes volatility from its 2017 slumber", said Mike van Dulken, head of Research at Accendo Markets.

The yen is perceived as a safe haven because Japan is the world's biggest creditor country and investors there have tended to repatriate funds in times of crisis.

Rising costs for housing, medical care and food helped push the Consumer Price Index (CPI) up 0.1 percent in July, seasonally adjusted, after no change in June and a 0.1 decrease in May, the US Labor Department said.

The Dow and S&P 500 inched higher on the day but they both posted their largest weekly percentage drops since late March. On Tuesday, August 8, despite that new record high, the market pulled back and closed lower due to decreased risk appetite.

Emerging market stocks lost 1.27 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.47 per cent lower.

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

The Canadian dollar was trading at 78.64 cents U.S., down from an average price of 78.71 cents USA on Wednesday.

Futures markets were also pointing to a lower start for Wall Street, where missile makers have been the only significant gainers in recent days. Gold has rallied 2.6% this week, while the 10-year Treasury yield touched a six-week low of 2.1%.

Spot gold added 0.7 per cent to $1,285.70 an ounce. To Reuters citing Peter Kenny, in charge of the market strategy in Global Markets Advisory Group, " market participants are looking for any reason for a reset of course.

Benchmark U.S. crude rose 23 cents to settle at $48.82 a barrel on the on the New York Mercantile Exchange.

Related News:

  • Wayne Rooney, Michael Keane start for Everton

    Wayne Rooney, Michael Keane start for Everton

    Wayne Rooney is set to make his first start for Everton in 13 years after re-joining from Manchester United . There could be Stoke debuts for Darren Fletcher , Max Choupo-Moting and on-loan Chelsea defender Kurt Zouma .
    LG V30 Plus said to launch alongside V30

    LG V30 Plus said to launch alongside V30

    A dual camera setup is also expected with 16MP (standard angle) and 13MP (optical angle) lenses and a 3,200mAh battery. That being said, since it is not verified yet, you must take the information with a pinch of salt.
    Five attempts to stop PDP convention failed - Makarfi

    Five attempts to stop PDP convention failed - Makarfi

    In a related development, Makarfi has assured members of the party that the issues relating to the South-west zone of the party have been resolved.
  • Trump to launch investigation into China trade violations

    Trump to launch investigation into China trade violations

    Lighthizer will recommend whether an official investigation into trade practices is warranted. The memorandum comes amid high tensions between Washington and Beijing.
    Hundreds attend memorial honouring Australian woman killed by U.S.  police officer

    Hundreds attend memorial honouring Australian woman killed by U.S. police officer

    An Australian flag stood prominently on the stage next to a large colour photo of Damond bordered in pink and white flowers. Ms Damond had called 911 to report a woman being raped close to her apartment block shortly before she was shot and killed.

    MBIA, Inc. (NYSE:MBI) Shares Bought by Geode Capital Management LLC

    This repurchase authorization allows the insurance provider to reacquire up to 21.7% of its stock through open market purchases. BidaskClub raised shares of MBIA from a "strong sell" rating to a " sell" rating in a research report on Thursday, June 29th.
  • West Nile pops up in West Michigan

    West Nile pops up in West Michigan

    To report a sick or dead crow, blue jay or raven, please call the Dead Bird Reporting Hotline at 1-800-433-1610. Those who do become ill usually experience mild symptoms such as fever, headache, muscle ache, rash and fatigue.
    Trump speaks with Guam governor amid North Korea threat

    Trump speaks with Guam governor amid North Korea threat

    Calvo agrees. "It's paradise, " he says. "It just looks like a attractive place", he said. God Bless the people of Guam and God Bless the United States of America.
    Liverpool midfielder Philippe Coutinho submits transfer request amid Barcelona interest

    Liverpool midfielder Philippe Coutinho submits transfer request amid Barcelona interest

    And Barcelona's interest in getting Coutinho on-board has intensified following the departure of Neymar to Paris St-Germain. The Catalan club has repeatedly made hefty bids for the 25-year-old, with the latest bid being reported at £90.5 million.
  • North Korea vows to retaliate against USA  over sanctions

    North Korea vows to retaliate against USA over sanctions

    Ri also said Pyongyang will "under no circumstances" negotiate anything to do with its nuclear or ballistic missile programs. China, North Korea's biggest ally and trade partner, backed the sanctions in a bid to spur dialogue.
    Wall Street Stages Recovery, but North Korea Keeps Rally From Takeoff

    Wall Street Stages Recovery, but North Korea Keeps Rally From Takeoff

    North Korea had announced a detailed plan to launch a salvo of ballistic missiles toward the U.S. Brent crude, used to price worldwide oils, rose 20 cents to $52.10 a barrel in London.

    Wenger 'relieved' Giroud has made a decision to stay

    Craig Shakespeare's side boasted numerous players, and characteristics, that saw them shock the world to win the title in 2015/16. Once they are back and available, Welbeck is hopeful that future results can be earned in less trying circumstances.


Most liked

Rep. Engel Compares Trump To Kim Jong Un
Ellison's comment about Trump and Kim drew quick fire from the Republican National Committee. Pacific Command showing B-1B Lancer bombers on Guam.

Big Boss heroine summoned by police
The infamous suicide attempt of popular Bigg Boss Tamil contestant Oviya Helen has landed her in legal trouble. It was because of the activities of the show, the actress took such a drastic step informed the petitioner.

Wenger Wants The Ox To Stay And Become An Arsenal Great
ET on NBCSN and online via NBCSports.com) and is unlikely to make their trip to Stoke in Week 2 too. Arsenal have offered Alexis Sanchez a new contract worth £300,000 per week.

Alvaro Morata impact not enough as Burnley stun Chelsea
West Bromwich Albion made another set piece pay as they opened the season with a 1-0 win over Bournemouth at The Hawthorns. That was until Luiz sprinted onto Morata's pass and volleyed in to bring the nine men to within a goal of Burnley .

Asian markets fall again as North Korea tensions continue
Pyongyang said it was examining plans for attacking Guam, a USA territory in the Pacific with a military base. Japan's Nikkei 225 Index edged down by 0.1 percent, while Hong Kong's Hang Seng Index tumbled by 1.1 percent.

Buccaneers cut ties with kicker Roberto Aguayo
In his three years in Tallahassee (2013-2015), Aguayo never made below 80 percent of his field goals. Folk made is only field goal attempt in Friday's exhibition opener against the Cincinnati Bengals .

Investors take a breath as US Stocks end winning streak
Benchmark 10-year notes were last up 12/32 in price to yield 2.201 percent, from 2.242 percent late on Wednesday. The contract fell 97 cents, or 2 percent, to close at $48.59 a barrel on Thursday.

Updates from Premier League opener at Selhurst Park
The deal is not expected to be done in time for Yiadom to make his debut on Saturday against Crystal Palace . They took the lead in the 24th minute after Christopher Schindler's near post flick met Mathias Zanka .

One dead when single-engine plane crashes
The Cessna 172 is a single-engine four-seater that is one of the most popular aircraft in general aviation for flight instruction. They said the pilot was pulled from the plane and flown Hartford Hospital with serious, life-threatening injuries.

MI plane crash injures two
The plane, with four on board, crashed around 11:45am Saturday, with two of the occupants becoming trapped in the wreckage. The LifeFlight Rescue Helicopter landed just minutes ago. "We do know that FAA is on the way here and we'll investigate".

NSFW: Peachy! Chad Johnson bares all on last night's Celebrity Big Brother
Trisha went on to say how Big Brother can not "silence her" and appeared to threaten to expose the "truth" about the show. She then went on to slam Sarah Harding and alleged that CBB have somehow been giving her special treatment in the house.

Woman killed as India, Pak trade fire in Poonch
Around 0520 hours, mortar shells fired from across the border exploded near the house of Mohd. India and Pakistan routinely accuse each other's forces of violating a 2003 ceasefire accord.

Freighter Aground in River Linking Lakes Superior, Huron
Contracted divers conducted an initial assessment of the vessel's stern Thursday and determined that it is structurally sound. It traveled on its own power to an anchoring spot near Lake Nickolet for inspection and there was no damage to the hull.

Newly-Single Aaron Carter Asks Chloe Moretz Out on a Date
Now that he's single, Carter appears to be ready to mingle, as he asked actress Chloe Grace Moretz on a date on Twitter this week. At the time, he claimed that there was an issue with his vehicle and that is why he was driving so badly on the road.

US' Tillerson arrives in Philippines for ASEAN Forum
The meeting comes as the US and Asian nations join together to try to step up Pyongyang's economic and diplomatic isolation. The new sanctions won't end that - or address the Chinese companies and banks that continue to do business with North Korea.